BERJAYA GROUP BERHAD Laporan Tahunan

Transcription

Strength In Diversity
BERJAYA GROUP BERHAD
(Company No. 7308-X)
Laporan Tahunan
19 9 9
R E P O R T
GROUP
A N N U A L
OUR MISSION
To generate consistently profitable
returns for our shareholders from
investments in core business activities:
• By providing direction, financial
resources and management support for
each operating unit; • Through
establishing a major market presence for
each activity; • Through dynamic and
innovative management, teamwork and
a commitment to excellence.
Table of
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BERJAYA GROUP
C
2
Board of Directors
3
Corporate Information
4
Audit Committee (terms of reference)
5
Corporate Profile
6
Group Addresses
10
Corporate Structure
13
Group Financial Summary
15
Financial Highlights
16
Chairman’s Statement
25
Review of Operations
69
Financial Statements
135
List of Properties
163
Statistics on Shareholdings
165
Notice of Annual General Meeting
166
Notice of Entitlement Date and Dividend Payment
167
Form of Proxy
Strength In Diversity
The corporate logo comprises the word
BERJAYA and a symbol made up of closely
interwoven Bs. It is set in rich cobalt blue.
BERJAYA means “success” in Bahasa Malaysia
and reflects the success and Malaysian
character of the Group’s traditional core
businesses. The intertwining Bs of the symbol
represent our strong foundations and the
constant synergy taking place within the
Group. Each B faces a different direction,
depicting the varied strengths of the
companies that make up the Berjaya Group.
Taken in totality, the corporate logo signifies
Strength in Diversity.
1
OARD OF DIRECTOR
Board of
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TA N S R I D ATO ’ S E R I V I N C E N T TA N C H E E Y I O U N
Chairman/Chief Executive Officer
D ATO ’ D A N N Y TA N C H E E S I N G
Managing Director
TA N S R I D ATO ’ TA N KO K PI N G
Executive Director
TA N S R I D AT U K A B D U L
RAHIM BIN HAJI DIN
Executive Director
RO B E RT YO N G K U E N LO K E
Executive Director
CHAN KIEN SING
Executive Director
F R E D D I E PA N G H O C K C H E N G
Executive Director
K H AW O O I TO N G
Executive Director
RO B I N TA N Y E O N G C H I N G
Executive Director
D ATO ’ I S M A I L B I N O S M A N
Executive Director
D ATO ’ T H O N G KO K K H E E
Director
D ATO ’ S U L E I M A N B I N
MOHD NOOR
Director
A D A M B I N B AC H E K
Director
Corporate
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A u d i t C o m m i t t e e
Chairman/Independent Non-Executive Director
Dato’ Suleiman bin Mohd Noor
Non-Independent Director
Robert Yong Kuen Loke
Independent Non-Executive Director
Adam bin Bachek
S e c r e t a r i e s
Su Swee Hong (MAICSA No. 0776729)
Lum Yuet Mei (MAICSA No. 0773324)
R e g i s t r a r
Berjaya Registration Services Sdn Bhd
Lot C1-C3, Block C
2nd Floor, KL Plaza
179 Jalan Bukit Bintang
55100 Kuala Lumpur
Tel: 03-245 0533
A u d i t o r s
Arthur Andersen & Co
Public Accountants
R e g i s t e r e d O f f i c e
Level 17, Menara Shahzan Insas
30 Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 03-935 8888
Pr i n c i p a l B a n k e r s
Arab-Malaysian Bank Berhad
Arab-Malaysian Finance Berhad
Arab-Malaysian Merchant Bank Berhad
Aseambankers Malaysia Berhad
Bank Bumiputra Malaysia Berhad
Malayan Banking Berhad
Malaysia Building Society Berhad
Multi-Purpose Bank Berhad
OCBC Bank (M) Berhad
Perwira Affin Merchant Bank Berhad
PhileoAllied Bank (Malaysia) Berhad
3
Audit
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TERMS OF REFERENCE
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1. Objectives
The primary objective of the audit committee is to assist the board of directors in fulfilling its responsibilities
relating to accounting and reporting practices of the Company and its subsidiary companies.
In addition, the audit committee shall:
a) Oversee and appraise the quality of the audits conducted both by the Company’s internal and external
auditors;
b) Maintain open lines of communication between the board of directors, the internal auditors and the
external auditors for the exchange of views and information, as well as to confirm their respective authority
and responsibilities; and,
c) Determine the adequacy of the Group’s administrative, operating and accounting controls.
2. Composition
The audit committee shall be appointed by the directors from among their number (pursuant to a resolution of
the board of directors) and shall be composed of not fewer than three members of whom a majority shall not
be:
a) Executive directors of the Company or any related corporation;
b) A spouse, parent, brother, sister, son or adopted son, daughter or adopted daughter of an executive director
of the Company or any related corporation; or,
c) Any person having a relationship which, in the opinion of the board of directors, would interfere with the
exercise of independent judgement in carrying out the functions of the audit committee.
The members of the audit committee shall elect a chairman from among their number who is not an executive
director or employee of the Company or any related corporation.
If a member of the audit committee resigns, dies or for any other reason ceases to be a member with the result
that the number of members is reduced to below three, the board of directors shall, within three months of
that event, appoint such number of new members as may be required to make up the minimum number of
three members.
3. Functions
The functions of the audit committee are as follows:
a) Review the audit plan with the external auditors;
b) Review the system of internal accounting controls with the external auditors;
c) Review the audit report with the external auditors;
d) Review the assistance given by the Company’s officers to the external auditors;
e) Review the scope and results of internal audit procedures;
f ) Review the balance sheets and profit and loss accounts of the Company, and the Group;
g) Review any related party transactions that may arise within the Company or the Group;
h) To nominate a person or persons as the external auditors; and
i) Identify and direct any special projects or investigations deemed necessary.
4. Access
The audit committee shall have unrestricted access to both the internal and external auditors and to senior
management of the Company and the Group.
The audit committee shall also have the ability to consult independent experts where they consider it necessary
to carry out their duties.
5. Meetings
The audit committee shall meet at least thrice a year and such additional meetings as the chairman shall decide
in order to fulfil its duties. In addition, the chairman may call a meeting of the audit committee if a request is
made by any committee member, the Company’s chief executive, or the internal or external auditors.
The company secretary shall act as secretary of the audit committee and shall be responsible, in conjunction
with the chairman, for drawing up the agenda and circulating it, supported by explanatory documentation to
committee members prior to each meeting.
The secretary shall also be responsible for keeping the minutes of meetings of the audit committee, and
circulating them to committee members and to the other members of the board of directors.
A quorum shall consist of a majority of committee members.
Corporate
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The Berjaya Group of Companies’ history dates back to 1984 when our Chief Executive Officer,
Tan Sri Dato’ Seri Vincent Tan Chee Yioun acquired a major controlling stake in the share capital
of Berjaya Industrial Berhad (originally known as Berjaya Kawat Berhad, now known as
RekaPacific Berhad) from the founders, Broken Hill Proprietary Ltd, Australia and National Iron
& Steel Mills, Singapore. The shareholding change also resulted in a major change in the
directorate, direction and dynamic growth of Berjaya.
In October 1988, following a major restructuring, Berjaya Group Berhad (then known as InterPacific Industrial Group Berhad) became the holding company of Berjaya Industrial Berhad.
Inter-Pacific Industrial Group Berhad was incorporated as Raleigh Berhad in 1967 as a bicycle
manufacturer. In 1969, the Company gained official listing on the Kuala Lumpur Stock
Exchange.
Through the entrepreneurial leadership of Tan Sri Dato’ Seri Vincent Tan, the Group has been
transformed into a diversified entity through partnerships, acquisitions, joint-ventures and new
start-ups.
Today, with a total employee strength of over 21,000, the Group is engaged in the following core
businesses:
•
•
•
•
•
Financial Services;
Consumer Marketing and Direct Selling;
Vacation Timeshare, Hotels, Resorts & Recreation Development;
Property Investment and Development; and
Gaming and Lottery Management.
The Berjaya Group of Companies’ financial growth, highlighted below reflects Tan Sri Dato’ Seri
Vincent Tan’s vision and stewardship over the past 15 years.
Corporate PROFILE
30.4.99
Million
RM
US$
Turnover
30.4.84 15 Years’ Annualised
Million
Increase
RM
US$
(%)
7,272.5
1,913.8
55.2
14.5
872
304.8
80.2
0.7
0.2
2,896
Shareholders’ Funds
2,643.5
695.7
20.9
5.5
837
Total Capital Funds
4,258.2
1,120.6
23.1
6.1
1,222
12,501.6
3,289.9
66.0
17.4
1,256
Pre-tax Profit
Total Assets
Total No. of Employees
Exchange rate : US$1.00 = RM3.80
21,066
450
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Group
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FINANCIAL SERVICES
INTER-PACIFIC SECURITIES SDN BHD
50250 Kuala Lumpur
Tel: 03-244 1888
ENG SECURITIES SDN BHD
INTER-PACIFIC FUTURES SDN BHD
95, Jalan Tun Abdul Razak
80000 Johor Bahru
Johor Darul Takzim
Tel: 07-223 1211/222 0088
BERJAYA GENERAL INSURANCE
BERHAD
18th Floor, Office Block
Plaza Berjaya, 12 Jalan Imbi
55100 Kuala Lumpur
Tel: 03-241 3323
PRIME CREDIT LEASING SDN BHD
6
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BERJAYA PALACE HOTEL
NAGARIA SUPERBOWL
1, Jalan Tangki, Karamunsing
Locked Bag 78
88997 Kota Kinabalu, Sabah
Tel: 088-211 911
Lot 4.01 – 5.01, Podium Block
Plaza Berjaya, 12 Jalan Imbi
55100 Kuala Lumpur
Tel: 03-244 5366
BERJAYA GEORGETOWN HOTEL
OVERSEAS HOTELS, RESORTS &
RECREATION DEVELOPMENT
‘One-Stop Midlands Park’
488D, Jalan Burmah
10350 Pulau Pinang
Tel: 04-227 7111
KELAB DARUL EHSAN
Taman Tun Abdul Razak
Jalan Kerja Air Lama
68000 Ampang Jaya
Selangor Darul Ehsan
Tel: 03-457 2333
BUKIT KIARA EQUESTRIAN &
COUNTRY RESORT
50250 Kuala Lumpur
Tel: 03-935 8888
Jalan Bukit Kiara
Off Jalan Damansara
60000 Kuala Lumpur
Tel: 03-254 1222
HOTELS, RESORTS &
BUKIT JALIL GOLF & COUNTRY
RESORT
MALAYSIAN HOTELS, RESORTS &
Jalan 3/155B, Bukit Jalil
57000 Kuala Lumpur
Tel: 03-958 0600
BERJAYA TIOMAN BEACH RESORT
TIOMAN ISLAND GOLF CLUB
STAFFIELD COUNTRY RESORT
Pulau Tioman
P.O. Box 4, 86807 Mersing
Johor Darul Takzim
Tel: 09-419 1000
Batu 13
Jalan Seremban-Kuala Lumpur
71700 Mantin
Negeri Sembilan Darul Khusus
Tel: 03-816 6117
BERJAYA LANGKAWI BEACH & SPA
RESORT
BUKIT BANANG GOLF & COUNTRY
CLUB
Karong Berkunci 200
Teluk Burau
07000 Langkawi
Kedah Darul Aman
Tel: 04-959 1888
1, Persiaran Gemilang
Bandar Banang Jaya
83000 Batu Pahat
Johor Darul Takzim
Tel: 07-428 6001
BERJAYA REDANG BEACH RESORT
BERJAYA REDANG GOLF & SPA
RESORT
Pulau Redang
P.O. Box 126, Main Post Office
20928 Kuala Terengganu
Terengganu Darul Iman
Tel: 09-697 3988
DESA WATERPARK
Taman Danau Desa
Off Jalan Kelang Lama
58100 Kuala Lumpur
Tel: 03-711 8338
BERJAYA HOTEL, SUVA
Cnr. Malcolm & Gordon Streets
P.O. Box 112, Suva
Fiji
Tel: 679-312 300
BERJAYA BEAU VALLON BAY BEACH
RESORT & CASINO
P.O. Box 550, Victoria
Mahe, Seychelles
Tel: 248-247 141
BERJAYA MAHE BEACH RESORT
P.O. Box 540, Port Glaud
Mahe, Seychelles
Tel: 248-378 451
BERJAYA PRASLIN BEACH RESORT
Anse Volbert, Praslin, Seychelles
Tel: 248-232 222
BERJAYA MOUNT ROYAL BEACH
HOTEL
36, College Avenue
Mount Lavinia, Sri Lanka
Tel: 941-714001
BERJAYA LE MORNE BEACH RESORT
& CASINO
Le Morne
Case Noyale
Mauritius
Tel: 230-683 6800
BERJAYA EDEN PARK HOTEL
35/39, Inverness Terrace
Bayswater, London W2 3JS
United Kingdom
Tel: 44-171 221 2220
KISHKINTA THEME PARK
82, Varadarajapuram, Dharkas
Ward No. 2
Tambaran, Madras
600 044 India
Tel: 044-236 7210
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VACATION TIMESHARE & TRAVEL
BERJAYA VACATION CLUB BERHAD
30, Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 03-935 1940
BERJAYA AIR SDN BHD
(Reservation & Ticketing)
50250 Kuala Lumpur
Tel: 03-935 1940
INTER-PACIFIC TRAVEL & TOURS
SDN BHD
2, Jalan Baba, Off Changkat
Thambi Dollah
55100 Kuala Lumpur
Tel: 03-245 2828
S
CEMERLANG HEIGHTS *
KL PLAZA
Gombak, Selangor Darul Ehsan
Box 333, S38
2nd Floor, KL Plaza
179, Jalan Bukit Bintang
55100 Kuala Lumpur
Tel: 03 - 248 7288
SEPUTEH HEIGHTS *
Taman Seputeh, Kuala Lumpur
PESONA FARMLANDS *
Rantau Panjang, Batang Berjuntai
BERJAYA TIOMAN SUITES
Tioman Island
Pahang Darul Makmur
BANDAR BANANG JAYA
BANANG JAYA HOMESTEADS LAND
74 & 75, Jalan Gemilang
Taman Bandar Banang Jaya
83000 Batu Pahat
Johor Darul Takzim
Tel: 07 - 428 8678/8722
KIM’S PARK BUSINESS CENTRE
PROPERTY INVESTMENT &
DEVELOPMENT
Marketing Office
for properties marked *
Level 15
Menara Shahzan Insas
50250 Kuala Lumpur
Tel: 03 - 935 8088/8188
(E-mail: [email protected])
BERJAYA INDUSTRIAL PARK *
Jalan Kebun, Shah Alam
GREENFIELDS APARTMENTS *
Bukit Jalil, Kuala Lumpur
Bandar Penggaram
Batu Pahat
Johor Darul Takzim
Tel: 07 - 428 8678/8722
MENARA GREENVIEW
DESA UNIVERSITY
Marketing Office:
Level 17, Penas Tower
Midlands Park Centre
488A, Jalan Burmah
10350 Pulau Pinang
Tel: 04 - 227 4188
SRI DAGANGAN KUANTAN
BUSINESS CENTRE
BERJAYA MEGAMALL
Marketing Office:
Lot 3-18, 3rd Floor
Jalan Tun Ismail
Sri Dagangan
25000 Kuantan
Pahang Darul Makmur
Tel: 09 - 508 8188
ROBSON CONDOMINIUMS *
WORLD SQUARE PTY LTD
Jalan 2/87D, Robson Heights
Kuala Lumpur
Level 12A, 97-99 Bathurst St
Sydney NSW 2000, Australia
Tel: 61 - 29 261 4401
PETALING INDAH CONDOMINIUMS *
Jalan Sungai Besi, Kuala Lumpur
BUKIT TAR *
SRI PELANGI SHOPS/APARTMENTS/
CONDOMINIUMS *
Jalan Genting Klang, Setapak
Kuala Lumpur
TAMAN KINRARA IV *
Puchong, Kuala Lumpur
BERJAYA HOLDINGS (HK) LIMITED
2301, Wing On House
71, Des Voeux Road, Central
Hong Kong
Tel: 852 - 2877 6616
KOTA RAYA COMPLEX
Lot 3.07A
Level 3, Kota Raya Complex
Jalan Cheng Lock
50000 Kuala Lumpur
Tel: 03 - 241 2562
PLAZA BERJAYA
12, Jalan Imbi
55100 Kuala Lumpur
Tel: 03 - 241 2240
WISMA COSWAY
901-902, Wisma Cosway
Jalan Raja Chulan
50200 Kuala Lumpur
Tel: 03 - 248 2722
CONSUMER MARKETING &
DIRECT SELLING/SERVICES
SINGER (MALAYSIA) SDN BHD
THE CATALOG SHOP SDN BHD
2, Jalan 13/1, Section 13
46200 Petaling Jaya
Tel: 03-757 5658
COSWAY (M) SDN BHD
2nd Floor, Wisma Cosway
Jalan Raja Chulan
50200 Kuala Lumpur
Tel: 03-248 1077
KIMIA SUCHI SDN BHD
No. 21, Jalan TUDM
Subang New Village
40000 Shah Alam
Tel: 03-747 6268
PT BERJAYA COSWAY INDONESIA
Jalan Raya Barat Boulevard
Blok VI No. 16-17
Kelapa Gading
Permai, Jakarta Utara
14240 Indonesia
Tel: 00-6221-452 2255
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COSWAY PHILIPPINES INC
Unit-1 Building 3, Jannov Plaza
2295 Pasong Tamo Extension
Makati City, The Philippines
Tel: 00-632-812 8111
COSWAY DO BRASIL LTDA
Rua Sao Paulo
144 - Alphaville
Barueri-SP-LEP
06465-130
Brazil
Tel: 00-55-11-7295 5300
COSWAY (THAILAND) CO., LTD
9th Floor, SCB Park Plaza,
West Tower 2
18 Ratchadapisek Road
Ladyao Jatujak
Bangkok 10900
Tel: 00-662-937 6177
COSWAY DE MEXICO S.A. DE C.V.
Insurgentes Sur, No. 587
Col Napoles
Mexico, DF 03810
Tel: 00-52-5-669 0009
UNZA (MALAYSIA) SDN. BHD.
Lot 529
Persiaran Subang Permai
Subang Jaya
47500 Petaling Jaya
Tel: 03-731 5588
UNZA COMPANY PTE LTD
#03-11, TradeMart Singapore
60 Martin Road
Singapore 239065
Tel: 02-732 5611
UNZA CATHAY LIMITED
Room 1905-06
19th Floor Asian House
1, Hennessy Road
Wanchai, Hong Kong
Tel: 852-2529 1191
UNZA VIETNAM CO. LTD
7, VSIP Street 4
Vietnam Singapore Industrial Park
Thuan An District
Binhduong Province SRV
Tel: 65-8439 7213
8
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DONGGUAN UNZA CONSUMER
PRODUCTS LTD
Si Huan Road, Zhu Shan
Fu Cheng, Dongguan
Guangdong
People’s Republic of China
Tel: 769-225 3905
BERJAYA HVN SDN BHD
85,87 & 89, Jalan 3/93
Taman Miharja
55200 Kuala Lumpur
Tel: 03-982 6688
DIRECT VISION SDN BHD
713, 7th Floor,
Block F, Phileo Damansara I
9 Jalan 16/11
46350 Petaling Jaya
Tel: 03-460 7763
QUASAR CARRIAGE SDN BHD
Lot 16, Jalan 19/1, Section 19
46300 Petaling Jaya
Tel: 03-754 9988
INTER-PACIFIC COMMUNICATIONS
SDN BHD
8A, Jalan Telawi 2, Bangsar Baru
59100 Kuala Lumpur
Tel: 03-282 4268
TAIGA FOREST PRODUCTS LTD
Suite 1001-4330
Kingsway, Burnaby
B.C. V5H 3X6 Canada
Tel: 1604-438 1471
GAMING & LOTTERY
MANAGEMENT
BERJAYA CARLOVERS (M) SDN BHD
SPORTS TOTO MALAYSIA SDN BHD
No. 7, Jalan 8/23A
Taman Danau Kota
Off Jalan Genting Kelang
53300 Kuala Lumpur
Tel: 03-411 6882
50250 Kuala Lumpur
Tel: 03-248 9888
CARLOVERS CARWASH LIMITED
Level 1
135 Victoria Avenue
Chatswood
NSW 2067, Australia
Tel: 294-170 977
VIDEO EZY (M) SDN BHD
Suite 14A-14B, 14th Floor
Plaza Berjaya
No. 12, Jalan Imbi
55100 Kuala Lumpur
Tel: 03-245 5002
VIDEO EZY AUSTRALASIA PTY LTD
VIDEO EZY INTERNATIONAL LTD
Level 1, 22-30 Oak Street
RoseHill
NSW 2124 Australia
Tel: 61(2)-9635 4700
HYUMAL MOTOR SDN BHD
Lot 7968, Batu 5
Jalan Kelang Lama
58000 Kuala Lumpur
Tel: 03-793 6629
BERJAYA LOTTERY MANAGEMENT
(HK) LIMITED
BERJAYA INTERNATIONAL CASINO
MANAGEMENT (HK) LIMITED
2301, Wing On House
71, Des Voeux Road, Central
Hong Kong
Tel: 852-2877 6616
INTERNATIONAL LOTTERY &
TOTALIZATOR SYSTEMS, INC
2131, Faraday Avenue
Carlsbad, USA
Tel: 760-931400
PRIME GAMING PHILIPPINES, INC.
PHILIPPINE GAMING MANAGEMENT
CORPORATION
29th Floor, Rufino Pacific Tower
6784, Ayala Cor. Herrera Street
Makati, Metro Manila
Philippines
Tel: 632-811 0065
BERJAYA RACING MANAGEMENT SDN
BHD
50250 Kuala Lumpur
Tel: 03-248 7833
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RESTAURANTS
ROADHOUSE GRILL, INC
6600N, Andrews Avenue
Suite 160, Fort Lauderdale
Florida 33309, USA
Tel: 954-489 9699
BERJAYA COFFEE COMPANY (M)
SDN BHD
BERJAYA ROASTERS (M) SDN BHD
BERJAYA ROADHOUSE GRILL
SDN BHD
Lot 1.05, 1st Floor, Podium Block
Plaza Berjaya, 12, Jalan Imbi
55100 Kuala Lumpur
Tel: 03-242 2266
ROASTERS ASIA PACIFIC (M) SDN BHD
Suite 14A-14B Office Block
Plaza Berjaya
12, Jalan Imbi
55100 Kuala Lumpur
Tel: 03-245 2633
S
GRAPHIC PRESS GROUP SDN BHD
SHINCA SDN BHD
Lot 6486, Jalan Medan 3
Taman Medan
Mukim Petaling
46000 Petaling Jaya
Tel: 03-793 9988
Bayan Lepas Free Trade Zone
Phase 3, 11900 Pulau Pinang
Tel: 04-643 3236
DUNHAM-BUSH (MALAYSIA) BHD
Lot 8, Jalan P/7, Seksyen 13
Kawasan Perusahaan Bangi
43650 Bandar Baru Bangi
Tel: 03-825 9688
DUNHAM-BUSH INDUSTRIES SDN BHD
Sub Lot 6 & 8, 5755, CT9985
Kidamai Industrial Park
Jalan Sungai Chua
Bukit Angkat
43000 Kajang
Tel: 03-833 9898
DUNHAM-BUSH INC.
INDUSTRY/TECHNOLOGY/
INFRASTRUCTURE
BERJAYA LERUN INDUSTRIES BERHAD
29 & 31, Jalan TPP 5/17
Taman Perindustrian Puchong
Section 5, 47000 Kuala Lumpur
Tel: 03-571 0222/100
FINEWOOD FOREST PRODUCTS SDN
BHD
Lot 1, PKNS Industrial Area
Locked Bag 223, Pandamaran
42009 Port Klang
Tel: 03-368 9139
BERJAYA WOOD FURNITURE (M) SDN
BHD
Tuanku Jaafar Industrial Estate
Sungai Gadut
71450 Negeri Sembilan
Darul Khusus
Tel: 06-677 4360
MANUFACTURING SERVICES
SENDIRIAN BERHAD
Lot 529, Persiaran Subang Permai
Subang Jaya, 47500 Petaling Jaya
Tel: 03-731 5588
101 Burgess Road
Harrisonburg VA 22801 USA
Tel: 540-434 0711
DUNHAM-BUSH LIMITED
European Headquarters
Downley Road, Havant
Hants
United Kingdom
PO9 2JD
Tel: 44-170 547 7700
INDUSTRI OTOMOTIF KOMERSIAL (M)
SDN BHD
Lot 38, Mukim Padang Meha
09400 Padang Serai, Kulim
Kedah Darul Aman
Tel: 04-485 1888
NEW PANTAI EXPRESSWAY SDN BHD
51A Jalan Petaling Utama 7
7th Mile, Jalan Klang Lama
46000 Petaling Jaya
Tel: 03-794 6414
IRIS TECHNOLOGIES (M) SDN BHD
IRIS Smart Technologies
Complex
Lot 8 & 9, Jalan D
Technology Park Malaysia
Bukit Jalil
57000 Kuala Lumpur
Tel: 03-966 0788
HEALTHCARE/EDUCATION
GRIBBLES PATHOLOGY (MALAYSIA)
SDN BHD
2nd Floor, Wisma KT
No. 14 Jalan 19/1
46300 Petaling Jaya
Tel: 03-757 7752
DUNHAM-BUSH (EUROPE) PLC
Hawksworth Industries Estate
Swindon, Wiltshire SN2 1DZ
United Kingdom
Tel: 3133-453 5010
DUNHAM-BUSH YANTAI CO. LTD
Gongjiado Zhifu District
Yantai, Shandong Province
2640002
Tel: 86-535-653 4241/6
BERJAYA BANDARTEX SDN BHD
BERJAYA KNITEX SDN BHD
BERJAYA SOUTEX SDN BHD
583, 3rd Milestone, Jalan Kluang
83000 Batu Pahat,
Johor Darul Takzim
Tel: 07-431 3303
GRIBBLES PATHOLOGY (VIC) PTY LTD
14 Yarra Street
Private Bay 1800
South Yarra
Victoria 3141, Australia
Tel: 613-982 7777
UNITED APPROACH SDN BHD
(KOLEJ ANTARABANGSA BERJAYA)
49-51, Jalan 52/18
New Town Centre
46200 Petaling Jaya
Tel:03-754 4602
9
Corporate
S
T
R
U
C
T
U
R
E
OF OPERATING COMPANIES AS AT 3 SEPTEMBER 1999
CONSUMER MARKETING
& DIRECT SELLING
INDUSTRY
INVESTMENT
HOLDING & OTHERS
VACATION TIMESHARE, HOTELS, RESORTS &
PROPERTY INVESTMENT & DEVELOPMENT
GAMING & LOTTERY MANAGEMENT
FINANCIAL SERVICES
100%
Finewood Forest Products
Sdn Bhd
100%
100%
Berjaya Wood Furniture (M)
Sdn Bhd
100%
56.8%
South Pacific Textiles (S)
Pte Ltd
100%
Berjaya Carlovers (M) Sdn
Bhd
72.7%
CARLOVERS CARWASH
LIMITED, AUSTRALIA
60.6% ROADHOUSE GRILL, INC, USA
100% Berjaya Roasters (M) Sdn Bhd
100% Eminent Capital Sdn Bhd
100% Berjaya Bandartex Sdn Bhd
100%
Berjaya Coffee Company
(M) Sdn Bhd
59.9%
TAIGA FOREST PRODUCTS
LTD, CANADA
100% Roasters Asia Pacific (HK) Limited
100% Berjaya Roadhouse Grill Sdn Bhd
40%
Berjaya LeRun Industries
Berhad
100% Berjaya Knitex Sdn Bhd
70%
Inter-Pacific Trading
Sdn Bhd
44.4%
BERJAYA HOLDINGS (HK)
LIMITED
100% Roasters Asia Pacific (M) Sdn Bhd
50% Inter-Pacific Travel & Tours Sdn Bhd
Graphic Press Group Sdn
Bhd
100% Berjaya Soutex Sdn Bhd
30% Quasar Carriage Sdn Bhd
60%
Video Ezy Australasia Pty
Limited, Australia
20% Hyumal Motor Sdn Bhd
Video Ezy International
60%
Limited
95% Shinca Sdn Bhd
†
50.5%
35%
†
62.3%
†
Iris Technologies (M) Sdn
Bhd
72.9%
COSWAY CORPORATION
BERHAD
†
▲
Industri Otomotif Komersial
(M) Sdn Bhd
100%
DUNHAM-BUSH (MALAYSIA)
BHD
100% Singer (Malaysia) Sdn Bhd
Dunham-Bush Industries
Sdn Bhd
100% The Catalog Shop Sdn Bhd
80%
85.4% Topaire Sdn Bhd
†
Berjaya Registration
Services (M) Sdn Bhd
Gribbles Pathology
(Malaysia) Sdn Bhd
50.1% United Approach Sdn Bhd
†
100% Berjaya Vacation Club Berhad
Berjaya Vacation Club (Cayman) Limited
100%
• Berjaya Eden Park, London, United Kingdom
Bukit Kiara Resort Berhad
100% • Bukit Kiara Equestrian & Country
Resort, Kuala Lumpur
Sports Toto Bowling Sdn Bhd
• Nagaria Superbowl
Berjaya Redang Beach Resort Sdn Bhd
99.4% • Berjaya Redang Golf & Spa Resort
• Berjaya Redang Beach Resort
80%
Tioman Island Resort Berhad
• Berjaya Tioman Beach Resort
Berjaya Land Development Sdn Bhd
• Kelang Lama Business Park,
Kuala Lumpur
• Gemilang Indah Apartments,
100% Kuala Lumpur
• Medan Indah, Kota Tinggi
• Taman UPC, Ayer Hitam
• Bandar Banang Jaya, Batu Pahat
• Robson Condominiums, Kuala Lumpur
100% Redang Island Golf & Country Club Berhad
Berjaya Golf Resort Berhad
94% • Bukit Jalil Golf & Country Resort,
Kuala Lumpur
Anemostat Topgroup
86.5%
Sdn Bhd
Unza Cathay Limited,
100%
Hong Kong
Berjaya Langkawi Beach Resort Sdn Bhd
100%
• Berjaya Langkawi Beach & Spa Resort
99% Berjaya Air Sdn Bhd
100% Ventiair Sdn Bhd
70% Unza Indochina Pte Ltd
Berjaya Resort (Sabah) Sdn Bhd
100%
• Berjaya Palace Hotel, Kota Kinabalu
70% Tioman Pearl Sdn Bhd
Topgroup Data-Aire
Sdn Bhd
100%
Dunham-Bush Sales &
Services Sdn Bhd
60%
100%
Topgroup Parts & Services
70%
(Kuantan) Sdn Bhd
Topaire Sales & Services
Sdn Bhd
Topgroup M&E Service
Sdn Bhd
Dunham-Bush International
100%
Pte Limited, Singapore
100%
100%
Limited, Hong Kong
100%
Dunham-Bush Holdings
(HK) Limited
Dunham-Bush Services
90% Company Limited,
Hong Kong
65.7%
DUNHAM-BUSH (EUROPE)
PLC, UNITED KINGDOM
†
70.3% UNZA HOLDINGS BERHAD
Berjaya Hotels & Resort (Mauritius) Limited
100% • Berjaya Le Morne Beach Resort
& Casino, Mauritius
Waidroka Trust Estates Limited
100%
• Berjaya Hotel, Suva, Fiji
100% UAA (M) Sdn Bhd
Top-Aire Air Conditioning
(China) Limited, Hong Kong
100%
Dunham-Bush De Mexico
S.A. De C.V.
100%
Hartford Compressors
Inc, USA
20%
Manufacturing Services
100%
Sendirian Berhad
50.1% Berjaya HVN Sdn Bhd
Dunham-Bush Limited,
United Kingdom
Anse Volbert Hotel Limited
• Berjaya Praslin Beach Resort, Seychelles
Berjaya Mount Royal Beach Hotel Limited
92.6% • Berjaya Mount Royal Beach Hotel,
Sri Lanka
100% Direct Vision Sdn Bhd
Berjaya Georgetown Hotel (Penang)
50% Sdn Bhd
• Berjaya Georgetown Hotel, P. Pinang
100% Cosway (M) Sdn Bhd
100%
Staffield Country Resort Berhad
50% • Staffield Country Resort,
Negeri Sembilan
100% Berjaya Property Management Sdn Bhd
51%
KDE Recreation Berhad
• Kelab Darul Ehsan
Navodaya Mass Entertainments Limited,
40% India
• Kishkinta Theme Park, Madras
100%
Flexiwang Sdn Bhd
• KL Plaza 1 Stop Food Garden
100%
Selat Makmur Sdn Bhd
• Seputeh Heights, Kuala Lumpur
100%
Indra Ehsan Sdn Bhd
• Taman Cemerlang, Gombak, Selangor
52.6%
Cempaka Properties Sdn Bhd
• Sri Dagangan Kuantan Business
100%
Centre, Kuantan
• Berjaya Megamall, Kuantan
100%
100% Prime Credit Leasing Sdn Bhd
38.5%
International Lottery & Totalizator
Systems, Inc, USA
70% Berjaya General Insurance Berhad
100%
Berjaya Racing Management
Sdn Bhd
40% First Taz Money Brokers Sdn Bhd
52% BERJAYA SPORTS TOTO BERHAD
89.5% Inter-Pacific Capital Sdn Bhd
100% Sports Toto Malaysia Sdn Bhd
100% Inter-Pacific Securities Sdn Bhd
100%
Kota Raya Development Sdn Bhd
• Kota Raya Complex, Kuala Lumpur
100%
Nural Enterprise Sdn Bhd
• Plaza Berjaya, Kuala Lumpur
100%
Noble Circle (M) Sdn Bhd
• KL Plaza, Kuala Lumpur
†
100%
Berjaya International Casino
Management (HK) Limited
100% Eng Securities Sdn Bhd
100%
Management (Seychelles) Limited
100% Inter-Pacific Futures Sdn Bhd
Semangat Cergas Sdn Bhd
• Ixora Apartments, Kuala Lumpur
Pakar Angsana Sdn Bhd
80% • Berjaya Industrial Park, Shah Alam,
Selangor
B.T. Properties Sdn Bhd
100% • Kim’s Park Business Centre,
Batu Pahat, Johor
Cerah Bakti Sdn Bhd
70% • Menara Greenview, Pulau Pinang
• Desa University, Pulau Pinang
Klasik Mewah Sdn Bhd
• Sri Indah Court, Johor Bahru
†
Tiram Jaya Sdn Bhd
100% • Sri Pelangi Apartments/
Condominiums, Kuala Lumpur
Sri Panglima Sdn Bhd
100%
• Taman Kinrara IV, Puchong, Kuala Lumpur
100%
Amat Muhibah Sdn Bhd
• Desa WaterPark, Kuala Lumpur
†
Cosway Do Brasil Ltda,
Brazil
†
66.89% BERJAYA CAPITAL BERHAD
Philippine Gaming Management
Corporation
100%
Taman TAR Development Sdn Bhd
• Bukit TAR, Ampang
37.5%
World Square Pty Limited
• World Square, Sydney, Australia
96.7% New Pantai Expressway Sdn Bhd
Sinar Merdu Sdn Bhd
• KL Court & KL Heights, Kuala Lumpur
85% Cosway (Philippines) Inc
100%
100%
Berjaya Mahe Beach Resort Limited
• Berjaya Mahe Beach Resort, Seychelles
Berjaya Beau Vallon Bay Beach Resort
Limited
100%
• Berjaya Beau Vallon Bay Beach Resort
Hotel & Casino, Seychelles
100% Unza (Malaysia) Sdn Bhd
(Cayman) Limited
100% Dunham-Bush Inc, USA
100%
Dongguan Unza Consumer
100% Products Limited, The
100%
(Europe) B.V., The Netherlands
Dunham-Bush Yantai
55% Co Limited, The People’s
Republic of China
100%
†
Dunham-Bush Sales &
100% Services (S) Pte Limited,
Singapore
Unza (China) Limited,
Hong Kong
Gemilang Cergas Sdn Bhd
• Pines Condominiums, Kuala Lumpur
100%
100% Berjaya Vacation Club (UK) Limited
Unza Company Pte
100%
Limited, Singapore
85%
100%
BHLB Pacific Trust Management
Berhad
100%
PROPERTY INVESTMENT & DEVELOPMENT
Securiservices Sdn Bhd
100% • Petaling Indah Condominiums,
Kuala Lumpur
Topgroup Polacel
100%
Sdn Bhd
60%
†
Berjaya Unza Holdings
(BVI) Limited
70%
68.5% PRIME GAMING PHILIPPINES, INC
81.8% BERJAYA LAND BERHAD
Indah Corporation Berhad
100% • Bukit Banang Golf & Country Club,
Batu Pahat
20%
†
Berjaya Engineering & Construction (HK)
Limited
Gribbles Pathology (Vic) Pty
Limited, Australia
Inter-Pacific
100%
Communications Sdn Bhd
▲
100%
50%
† 100% Berjaya Lottery Management
(HK) Limited
Listed companies
Stephens Properties Sdn Bhd
100%
• Wisma Cosway, Kuala Lumpur
72% Cosway (Thailand) Co. Ltd
†
Combined interest
▲
Pending completion of disposal
Cosway De Mexico S.A.
100%
De C.V.
82% Kimia Suchi Sdn Bhd
10
11
12
Group
F
I
N
A
N
C
I
A
L
S
U
M
M
A
R
Y
After Change in Shareholding *
1999
US$’000
1999
RM’000
1998
RM’000
1997
RM’000
1996
RM’000
1995
RM’000
1994
RM’000
1993
RM’000
1992
RM’000
1991
RM’000
1990
RM’000
1989
RM’000
1988
RM’000
1987
RM’000
1986
RM’000
1,913,823
80,200
73,100
7,272,528
304,759
277,780
7,449,109
342,384
233,354
6,351,690
699,020
498,037
5,117,809
283,574
146,796
3,475,385
281,864
177,845
2,438,072
325,361
205,487
1,842,620
146,043
73,534
1,841,882
102,585
44,469
1,451,530
131,180
78,324
1,123,717
100,843
61,613
328,708
41,133
21,760
18,852
(521)
(923)
18,662
(1,148)
(3,389)
29,896
8,213
1,700
(28,908)
(28,908)
(109,851)
(109,851)
4,738
4,738
223,638
223,638
(7,242)
77,193
69,951
36,005
87,616
123,621
87,788
156,505
244,293
14,851
186,550
201,401
2,472
6,270
8,742
24,670
55,817
80,487
25,377
81,300
106,677
11,250
3,319
14,569
(923)
(11,539)
(12,462)
(3,388)
(29,107)
(32,495)
1,790
(4,915)
(3,161)
Share Capital
Reserves
336,034
359,632
1,276,929
1,366,601
1,215,762
1,424,412
877,214
1,009,911
847,904
826,061
513,858
555,985
499,882
484,323
406,131
252,403
358,635
108,914
358,635
141,341
343,728
68,947
326,228
(20,406)
72,495
(18,587)
72,495
(5,548)
72,495
26,946
Shareholders’ Fund
ICULS
Minority Interests
695,666
4,814
420,100
2,643,530
18,292
1,596,381
2,640,174
140,699
1,050,388
1,887,125
807,984
827,150
1,673,965
49,709
1,298,636
1,069,843
1,031,692
984,205
10,848
664,090
658,534
100,920
992,271
467,549
89,659
384,958
499,976
630,462
412,675
253,098
305,822
39,822
53,908
1
66,947
4
99,441
5
1,120,580
10,992
34,522
1,005,837
1,117,963
4,258,203
41,770
131,184
3,822,180
4,248,261
3,831,261
955,969
123,457
3,704,095
5,219,784
3,522,259
822,121
71,328
2,675,705
5,374,092
3,022,310
653,075
43,580
1,693,191
4,410,481
2,101,535
537,462
35,370
971,734
3,024,020
1,659,143
440,809
35,888
903,966
2,541,384
1,751,725
341,649
27,338
518,772
2,790,730
942,166
311,355
31,640
670,572
2,251,379
1,130,438
247,126
32,880
605,476
1,196,884
665,773
218,688
8,262
363,140
879,294
345,644
6,295
5,158
294,947
419,714
53,909
13
30,973
66,951
5,462
37,814
99,446
5,473
4,000
26,168
3,289,894
12,501,598
13,834,566
12,465,505
9,822,637
6,670,121
5,581,190
5,430,214
4,207,112
3,212,804
2,135,157
1,071,758
84,895
110,227
135,087
Fixed Assets
Intangible Assets
Investments & Long Term Receivables
Current Assets
710,876
697,596
475,790
1,405,632
2,701,328
2,650,863
1,808,005
5,341,402
2,468,317
2,812,364
2,538,659
6,015,226
1,888,518
2,535,334
2,337,279
5,704,374
1,744,561
1,016,178
2,337,054
4,724,844
1,384,115
602,328
1,782,702
2,900,976
1,026,544
478,968
1,388,703
2,686,975
778,220
278,637
1,659,603
2,713,754
828,919
369,873
1,603,731
1,404,589
720,247
299,488
937,697
1,255,372
228,002
213,240
741,125
952,790
111,822
329,308
197,689
432,939
11,972
47,087
25,836
13,597
39,062
57,568
13,144
3
34,225
87,715
Total Assets
3,289,894
12,501,598
13,834,566
12,465,505
9,822,637
6,670,121
5,581,190
5,430,214
4,207,112
3,212,804
2,135,157
1,071,758
84,895
110,227
135,087
0.54
(2.3)
2.07
(8.8)
2.17
0.5
2.15
26.3
1.97
(1.0)
2.08
7.1
1.97
18.8
1.62
4.0
1.30
0.7
1.39
7.0
1.20
7.7
0.94
6.5
0.74
(1.3)
0.92
(4.6)
1.37
2.6
0.5
3.0
21,466
26.3
12.5
75,808
9.2
10.0
59,354
24.5
12.0
43,460
52.5
12.0
41,404
53.8
12.0
32,155
2.4
12.0
27,974
22.7
5.0
11,656
32.4
10.0
22,258
8.4
6.0
12,723
(17.2)
-
(44.8)
-
(4.9)
7.5
3,262
Description
Turnover
Profit/(Loss) Before Taxation
Profit/(Loss) After Taxation
Profit/(Loss) After Taxation
and Minority Interest
Extraordinary Items
Profit/(Loss) Attributable To Shareholders
Capital Funds
Insurance Reserves
Deferred Taxation
Long Term Liabilities
Current Liabilities
Net Assets Per Share (US$/RM)
Net Earnings/(Loss) Per Share (cents/sen)
Net Earnings/(Loss) Including Extraordinary
Items Per Share (cents/sen)
Dividend Rate (%)
Net Dividend Amount (US$’000/RM’000)
(2.3)
3.0
10,081
(8.8)
3.0 †
38,308
Note:
Figures for 1986-1988 are for the 12 months ended 31 January; figures for 1989 are for the 15 months period ended 30
April; figures for 1990-1998 are for the 12 months ended 30 April. Where additional shares are issued, the earnings per
share are calculated on a weighted average number of shares.
Exchange rate: US$1.00=RM3.80
* Change in shareholding relates to the major change in directorate and direction of the Company.
† Tax exempt dividend
13
Before Change in Shareholding *
14
Financial
H
I
G
H
L
I
G
H
T
S
Turnover
Profit Before Tax
6,352
8,000
7,000
700
600
5,118
6,000
0
305
284
325
146
131
41
8
86 87 88 89 90 91 92 93 94 95 96 97 98 99
(1)
100
(0.5)
101
200
103
300
282
2,438
400
329
19
19
30
1,000
1,843
1,124
2,000
1,451
3,000
1,842
4,000
342
500
3,475
5,000
0
800
699
7,449
RM Million
7,273
RM Million
86 87 88 89 90 91 92 93 94 95 96 97 98 99
Financial HIGHLIGHTS
4,000
2,500
3,022
1,752
4,258
942
1130
666
346
86 87 88 89 90 91 92 93 94 95 96 97 98 99
Total Assets
12,465
RM Million
14,000
12,502
0
9,823
12,000
0
5,581
85
2,000
2,135
1,072
4,000
3,213
6,000
4,207
8,000
6,670
10,000
135
86 87 88 89 90 91 92 93 94 95 96 97 98 99
54
99
500
67
1,070
984
659
468
500
1,000
54
413
1,500
110
0
67
99
306
500
2,000
1,659
2,500
1,500
1,000
2,102
3,000
5,430
1,674
2,000
1,887
3,500
13,835
2,644
4,500
2,640
3,000
3,831
Capital Funds
RM Million
3,522
Shareholders’ Fund
RM Million
86 87 88 89 90 91 92 93 94 95 96 97 98 99
15
Chairman’s STATEMENT
Pool-bar at
the Berjaya
Tioman Beach
Resort,
Malaysia.
A Toto draw
in progress.
Sri Petaling
Condominiums,
Kuala Lumpur.
Cosway’s
range of
products.
Viewing gallery
at Inter-Pacific
Securities.
16
A Sports
Toto outlet.
Health
supplements
from Cosway.
C H A I R M A N ’ S
S T A T E M E N T
Penyata Pengerusi
The performance of the Malaysian economy in 1998 was adversely affected by
the deflationary impact of the financial crisis that beset the region since mid1997. To contain the severity of the economic contraction, the Government
implemented a series of measures to insulate the Malaysian economy and we
are proud to note that our Government’s relentless efforts and determination
in turning the country around is working and have put it back on the growth
track. We are seeing some positive signs of recovery in some sectors of the
economy particularly in the second quarter of 1999. Despite the difficult
business environment experienced by the Group during the year under review,
we are pleased to note that certain sectors of the Group have begun to show
some signs of improvement in their performance together with the recovering
economy.
F I N A N C I A L R E S U L T S For the financial year under review, the
Group recorded a turnover of RM7.27 billion, representing a decline of 2.4%
from the RM7.45 billion recorded in the preceding year.
P E N Y A T A P E N G E R U S I Prestasi ekonomi Malaysia pada tahun 1998 terjejas
dengan hebat akibat kesan krisis kewangan yang melanda rantau ini sejak
pertengahan tahun 1997. Sebagai usaha mengawal penguncupan drastik ekonomi, dan
demi melindungi ekonomi negara, Kerajaan telah melaksanakan pelbagai langkah di
mana hasil daripada keazaman dan usaha gigih Kerajaan untuk memulihkan ekonomi,
negara kini bangkit kembali untuk menikmati pertumbuhan seterusnya. Tanda-tanda
positif ke arah pemulihan ini dapat dilihat dalam beberapa sektor ekonomi terutannya
pada suku kedua tahun 1999. Meskipun menghadapi persekitaran perniagaan yang
sukar pada tahun di bawah kajian, kami berasa bangga apabila prestasi beberapa
sektor dalam Kumpulan telah mula menunjukkan tanda-tanda yang menggalakkan
seiring dengan pemulihan ekonomi negara.
K E P U T U S A N K E W A N G A N Bagi tahun kewangan di bawah kajian, Kumpulan
mencatatkan perolehan sebanyak RM7.27 bilion, penyusutan 2.4% daripada RM7.45
bilion yang dicatatkan pada tahun sebelumnya.
Penyusutan dalam perolehan ini adalah disebabkan oleh penjualan Prudential
Assurance Malaysia Berhad (“PAMB”) di mana Kumpulan hanya menyatukan sebulan
perolehan bagi tahun kewangan.
17
Taiga Forest
Products
Ltd, Canada,
a wholesale
distributor
of lumber
and panel
products.
A Roadhouse
Grill restaurant
in USA.
S T A T E M E N T
Penyata Pengerusi
The reduction in turnover was mainly attributed to the disposal of Prudential
Assurance Malaysia Berhad (“PAMB”) in which the Group only consolidated
one month of turnover for the financial year.
A weak property market and dismal performance of the stock market for most part
of the financial year affected our Property and Stockbroking businesses as well.
Despite the substantial gain made from the disposal of PAMB of RM606
million, Group pre-tax profit declined by 12.3% from RM342.4 million in the
previous year to RM304.8 million. The decline was mainly due to provisions
made for diminution in value for some of our offshore and domestic
investments and realised losses incurred from partial disposal of investments in
subsidiary companies. The poor performance of some of our overseas
operations and start-up losses incurred in our overseas direct selling businesses
and higher interest expenses had also negated the Group’s profitability.
In spite of the difficult business environment experienced in the year under
review, our gaming business operated through Sports Toto Malaysia Sdn Bhd,
Kelembapan pasaran hartanah dan prestasi pasaran saham yang kurang
memberangsangkan bagi hampir keseluruhan tahun kewangan turut menjejaskan
perniagaan-perniagaan Hartanah dan Broker saham kami.
Walaupun memperolehi keuntungan besar hasil penjualan PAMB sebanyak RM606
juta, keuntungan sebelum cukai Kumpulan susut 12.3% daripada RM342.4 juta pada
tahun sebelumnya kepada RM304.8 juta. Penyusutan ini adalah disebabkan oleh
peruntukan yang dibuat bagi menampung rosot nilai beberapa pelaburan luar pesisir
dan domestik serta kerugian daripada penjualan sebahagian pelaburan kami dalam
anak-anak syarikat. Prestasi beberapa operasi kami di luar negara yang kurang
memberangsangkan dan kerugian awal dalam perniagaan-perniagaan jualan langsung
kami di luar negara ditambah dengan perbelanjaan faedah yang lebih tinggi juga turut
menjejaskan keuntungan Kumpulan.
Meskipun menghadapi persekitaran perniagaan yang sukar pada tahun di bawah
kajian, perniagaan pertaruhan kami yang dikendalikan melalui Sports Toto Malaysia
Sdn Bhd, perniagaan-perniagaan pengguna yang dikendalikan melalui Cosway (M) Sdn
Bhd dan kumpulan syarikat Unza, pengedaran produk kayu dan panel yang
18
Cosway’s range
of cosmetics and
costume
jewellery.
Trading area
at Inter-Pacific
Securities.
S T A T E M E N T
Penyata Pengerusi
consumer businesses operated through Cosway (M) Sdn Bhd and Unza group
of companies, wholesale distribution of lumber and panel products operated
through Taiga Forest Products Ltd and our overseas restaurant business
operated through Roadhouse Grill Inc were able to maintain their profitability.
D I V I D E N D The Directors have recommended a final tax exempt
dividend of 3% per share for the financial year ended 30 April 1999 for the
approval of shareholders at the forthcoming Annual General Meeting.
C O R P O R A T E D E V E L O P M E N T S During the year, the Group
continued with its restructuring exercise to further consolidate and to reduce
the overall gearing level of the Group. In August 1998, Berjaya Group
proposed a Rights Issue of approximately RM607.88 million of 5%
Irredeemable Convertible Unsecured Loan Stocks (“ICULS”) on the basis of
RM1.00 nominal amount ICULS with four warrants for every two existing
ordinary shares held in Berjaya Group. The ICULS would immediately raise
RM607.88 million on issue and the warrants if fully exercised would have the
potential to raise a further RM2.43 billion over a tenure period of 10 years.
dikendalikan secara borong melalui Taiga Forest Products Ltd dan perniagaanperniagaan restoran kami di luar negara yang dikendalikan melalui Roadhouse Grill Inc
telah berjaya mengekalkan keuntungan mereka.
DIVIDEN
Lembaga Pengarah mengesyorkan dividen akhir dikecualikan cukai
sebanyak 3% sesaham bagi tahun kewangan berakhir 30 April 1999, tertakluk kepada
kelulusan para pemegang saham di Mesyuarat Agung Tahunan yang akan datang.
PEMBANGUNAN
KORPORAT
Dalam tahun di bawah kajian, Kumpulan
meneruskan langkah penyusunan semula yang telah dilaksanakan sebelum ini bagi
menyatukan dan mengurangkan lagi tahap pinjaman yang tidak berbayar Kumpulan secara
keseluruhan. Pada Ogos 1998, Kumpulan Berjaya mencadangkan Terbitan Hak yang
dianggarkan berjumlah RM607.88 juta pada kadar 5% Stok Pinjaman Tanpa Cagaran
Boleh Tukar Tidak Boleh Tebus (“ICULS”) pada kadar RM1.00 asas jumlah nominal ICULS
dengan empat waran bagi setiap dua saham biasa sedia ada yang dipegang dalam
Kumpulan Berjaya. ICULS tersebut dengan segera akan menghasilkan terbitan sebanyak
RM607.88 bilion dan waran sekiranya dilaksanakan sepenuhnya mempunyai potensi untuk
menghasilkan sejumlah RM2.43 bilion lagi dalam tempoh 10 tahun.
19
Unza’s
ENCHANTEUR
products with
its new and
attractive
packaging.
SAFI brand from
Unza with a more
contemporary and
impactful design
packaging.
S T A T E M E N T
Penyata Pengerusi
Subsequently, the Securities Commission approved the Rights Issue of
RM640 million of ICULS with 2.56 billion warrants. The Rights Issue is
expected to be completed in October 1999.
In March 1999, Berjaya Land Berhad (“BLand”) proposed a conversion
of up to RM900 million of its existing bank loans into New ICULS and
New Shares in BLand to reduce its borrowings. It was proposed that
RM100 million of the bank borrowings be converted into New Shares,
while the balance of up to RM800 million be converted into 5% ICULS
with a 10-year tenure. Subsequent to the year end, in June 1999, BLand
further announced an increase in the aggregate quantum of the
Proposed Debt Conversion from RM900 million to approximately
RM1.2 billion to cater for new participation from additional creditors.
Following the approval by the Securities Commission on the proposal in
August 1999, the issue price of new BLand shares for the proposed
conversion of approximately RM100 million of borrowings into equity
has been fixed at RM1.55 and the conversion price of the ICULS at
RM1.60.
Suruhanjaya Sekuriti seterusnya meluluskan Terbitan Hak sebanyak RM640 juta ICULS
dengan waran 2.56 bilion. Terbitan Hak dijangka selesai pada Oktober 1999.
Pada Mac 1999, Berjaya Land Berhad (“BLand”) mencadangkan penukaran pinjaman
banknya yang sedia ada sehingga RM900 juta kepada ICULS Baru dan Saham Baru
dalam BLand bagi mengurangkan pinjamannya. Mengikut cadangannya, pinjaman bank
berjumlah RM100 juta ditukarkan kepada Saham Baru, manakala baki sehingga RM800
juta lagi ditukarkan kepada kadar 5% ICULS bagi tempoh 10 tahun. Selepas akhir
tahun, pada Jun 1999, BLand seterusnya mengumumkan peningkatan dalam kuantum
agregat Cadangan Penukaran Hutang daripada RM900 juta kepada kira-kira RM1.2
bilion untuk memenuhi penyertaan baru pemiutang tambahan. Dengan kelulusan
Suruhanjaya Sekuriti untuk cadangan tersebut pada Ogos 1999, harga terbitan saham
baru BLand bagi cadangan penukaran pinjaman kira-kira RM100 juta kepada ekuiti
ditetapkan pada kadar RM1.55 dan harga penukaran ICULS pada kadar RM1.60.
Kumpulan juga mengambil keputusan menjual kepentingannya dalam perniagaan
utamanya dan perniagaan-perniagaan lain selepas akhir tahun kewangan. Pada Julai
1999, Kumpulan mengajukan cadangan untuk menjual sejumlah 40 juta saham biasa
20
KL Plaza,
Kuala Lumpur.
S T A T E M E N T
Penyata Pengerusi
The Group also made strategic decisions to further divest its stakes in both
core and non-core businesses after the financial year end. In July 1999, the
Group proposed to dispose a total of 40 million ordinary shares representing
11.7% of the issued and paid-up share capital of Cosway Corporation Berhad
for a total cash consideration of RM84 million. This would reduce the Group’s
interest in Cosway Corporation from 72.9% to 61.2%.
Other proposals in the pipeline include the disposal of the entire 50% stake in
Advance Medical Technology Pty Ltd, holding company of Gribbles
Pathology Group of Companies, and 21.5% stake in Gribbles Pathology (M)
Sdn Bhd for a total cash consideration of RM178 million.
The proceeds from the above proposed disposals, debt conversion and
proposed Rights Issue would mainly go towards reducing the overall Group
debt to a more comfortable level.
Y E A R 2 0 0 0 D I S C L O S U R E The Group is pleased to announce
that all companies within the Group will be Year 2000 ready by the end of
yang merupakan 11.7% daripada modal saham terbitan dan berbayar Cosway
Corporation Berhad melalui pertimbangan tunai berjumlah RM84 juta. Ini akan
mengurangkan kepentingan Kumpulan dalam Cosway Corporation daripada 72.9%
kepada 61.2%.
Cadangan-cadangan lain yang sedang dalam perancangan adalah menjual semua 50%
kepentingan dalam Advance Medical Technology Pty Ltd, syarikat induk Kumpulan
Syarikat Gribbles Pathology dan 21.5% kepentingan dalam Gribbles Pathology (M) Sdn
Bhd melalui pertimbangan tunai berjumlah RM178 juta.
Hasil daripada cadangan-cadangan penjualan di atas, penukaran hutang dan cadangan
Terbitan Hak akan disalurkan bagi mengurangkan seluruh hutang Kumpulan ke tahap
yang lebih selesa.
PENDEDAHAN
TAHUN
2000
Kumpulan
dengan
sukacitanya
mengumumkan bahawa semua syarikat dalam Kumpulan akan mematuhi persediaan
Tahun 2000 sebelum akhir Oktober 1999. Bagi perniagaan-perniagaan pertaruhan dan
broker saham ‘on-line’ yang kritikal, Kumpulan telah melaksanakan rancangan luar
21
Bukit Jalil Golf
& Country
Resort, Kuala
Lumpur.
Bukit Jalil Golf &
Country Resort,
Kuala Lumpur.
S T A T E M E N T
Penyata Pengerusi
October 1999. For the on-line critical businesses in gaming and stockbroking,
the Group has in place contingency plans for continued operations in the
event of Year 2000 failures. For the non on-line critical systems, the Group has
prepared manual procedures in case of Year 2000 failures. The total estimated
cost for the Year 2000 project for the entire Group is estimated to be
approximately RM20.0 million.
S T R A T E G Y F O R T H E F U T U R E A N D P R O S P E C T S Our
Group being one of the fastest growing and largest conglomerates in Malaysia
is engaged in successful core businesses such as gaming, direct selling, financial
services, property development, vacation timeshare and hotels and resorts
development.
Our huge distribution network, strong brand names, superior quality
products and strong foundation that we have built over the last 15 years
remain the key to our success. The Group’s main earnings contributor, Sports
Toto Malaysia, is the second largest Number Forecast Operator with the
largest network of 681 outlets throughout the country. Our direct selling
jangka bagi menjamin kelancaran operasi sekiranya berlaku sebarang masalah Tahun
2000. Manakala bagi sistem kritikal bukan ‘on-line’, Kumpulan telah menyediakan
prosedur-prosedur manual sebagai langkah persediaan menghadapi sebarang masalah
Tahun 2000. Kos projek Tahun 2000 untuk seluruh Kumpulan dianggarkan menelan
belanja RM20.0 juta.
STRATEGI
DAN
PROSPEK
MASA
DEPAN
Sebagai salah sebuah
konglomerat terbesar dan paling pantas berkembang di Malaysia, Kumpulan kami
terlibat dalam perniagaan-perniagaan utama yang berjaya seperti pertaruhan, jualan
langsung, perkhidmatan kewangan, pembangunan hartanah, percutian perkongsian
masa serta pembangunan hotel dan pusat peranginan.
Rangkaian pengedaran kami yang begitu meluas, jenama-jenama unggul, produk
berkualiti dan asas kukuh yang sudah berakar umbi sejak 15 tahun lalu merupakan
kunci kepada kejayaan kami. Penyumbang utama kepada perolehan Kumpulan, Sports
Toto Malaysia merupakan Pengendali Nombor Ramalan kedua terbesar dengan
rangkaian terbesar yang mempunyai 681 cawangan di seluruh negara. Syarikat jualan
langsung kami, Cosway (M) Sdn Bhd merupakan syarikat jualan langsung terunggul di
22
Berjaya
Langkawi
Beach & Spa
Resort,
Malaysia.
Berjaya Tioman
Beach Resort,
Malaysia clubhouse.
S T A T E M E N T
Penyata Pengerusi
company, Cosway (M) Sdn Bhd is a leading direct selling company in
Malaysia with over 300 stockist centres throughout the country. Our
products’ strong branding coupled with aggressive and innovative marketing
plans have made us market leaders in consumer marketing. Our vacation
timeshare company, Berjaya Vacation Club, has emerged as the leading
vacation timeshare company in the country and continues to register growth
in membership and sales despite operating in a difficult environment. Our
hotels and resorts which are strategically located, are making good progress in
achieving a more significant market presence and market penetration both
locally and internationally.
Given the reach of our network and the successful and well-managed
businesses together with our focused approach, the prospects for the Group
remain good.
Austerity and synergistic measures, which have been carried out across the
Group since the downturn, have put us on a stronger footing to recover with
the recovering economy.
Malaysia yang mempunyai lebih 300 pusat stokis di seluruh negara. Produk kami yang
berjenama unggul serta rancangan pemasaran yang giat dan berinovatif banyak
menyumbang kepada kejayaan kami sebagai peneraju pasaran dalam pemasaran
pengguna. Syarikat percutian perkongsian masa kami, Berjaya Vacation Club, muncul
sebagai syarikat percutian perkongsian masa yang unggul di negara ini dan terus
mencatatkan peningkatan dalam keahlian dan penjualan meskipun menghadapi
persekitaran yang sukar. Rangkaian hotel dan pusat peranginan kami yang secara
strategik terus berkembang pesat dengan memantapkan lagi kedudukan pasaran kami
dan memperluaskan pasaran baik di dalam mahupun di luar negara.
Berdasarkan rangkaian kami yang luas dan kejayaan perniagaan yang dikendalikan
dengan cekap serta pendekatan kami yang fokus, masa depan Kumpulan adalah
dijangka cerah.
Langkah-langkah berhemat dan sinergistik yang telah dilaksanakan di segenap
peringkat Kumpulan sejak dilanda kegawatan ekonomi telah memantapkan lagi
kedudukan kami untuk melangkah seiring dengan pemulihan ekonomi negara.
23
Berjaya Redang
Beach Resort,
Malaysia.
Pool view of
Berjaya Langkawi
Beach & Spa
Resort, Malaysia.
S T A T E M E N T
Penyata Pengerusi
With the Group’s on-going efforts in maintaining its market position in its
core businesses and taking into account the improving economic conditions,
the Board believes that barring any unforeseen circumstances, the Group’s
performance for the current year will show an improvement.
A P P R E C I A T I O N On behalf of my fellow Board members, I would like
to commend the management and staff for their unwavering strength and
support shown towards the Group throughout this difficult period. I would
like to urge everyone to continue to keep up the good work and remain
focused as we move into the new millennium with greater challenges ahead of
us. I also wish to thank our shareholders, business partners, financiers,
regulatory authorities, customers and suppliers for their continued support.
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN
Chairman/Chief Executive Officer
13 September 1999
Hasil usaha-usaha giat Kumpulan dalam mengekalkan kedudukan pasaran perniagaan
utamanya serta berdasarkan pemulihan ekonomi, melainkan berlaku keadaan-keadaan
yang tidak dijangka, Lembaga Pengarah yakin Kumpulan mampu mempamerkan
prestasi yang lebih baik pada tahun semasa.
PENGHARGAAN
Bagi pihak ahli Lembaga Pengarah, saya ingin menghulurkan
penghargaan kepada pihak pengurusan dan kakitangan atas kecekalan dan sokongan
padu terhadap Kumpulan sepanjang tempoh yang sukar ini. Saya ingin menggesa
anda semua agar meneruskan segala usaha gigih anda selama ini dan memusatkan
tumpuan anda apabila melangkah ke alaf baru yang penuh dengan pelbagai cabaran
hebat. Saya juga ingin mengucapkan terima kasih kepada para pemegang saham,
sekutu niaga, pembiaya, penguasa kerajaan, pelanggan dan pembekal atas sokongan
berterusan mereka.
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN
Pengerusi/Ketua Pegawai Eksekutif
13 September 1999
24
Review
of OPERATIONS
Tinjauan Operasi
Gaming & Lottery
MANAGEMENT
GAMING & LOTTERY
MANAGEMENT
M a l a y s i a 1998 and 1999 have
both been challenging years for the
business community as a whole. The
Number
Forecast
Operators
(“NFO”) industry, though more
resilient when compared to many
other industry sectors, was not spared
by the financial crisis. While
transaction volumes continued to
rise, average bet sizes decreased as
consumers became more cautious
with their spending pattern. The
NFO industry contracted with
operators registering negative turnover
growth rates of between 4% to 7%.
Against this background, it is
commendable that Sports Toto
Malaysia Sdn Bhd’s (“Sports Toto”)
turnover growth rate fell
marginally lower only by
0.5% from RM2.16 billion in
the previous year to RM2.15
billion for the year under review.
Profit before tax was however
lower at RM413.6 million, a
decrease of 7.7% from RM448.1
million recorded in the previous year
mainly due to the increase in gaming
PENGURUSAN
PERTARUHAN
& LOTERI
Malaysia
Masyarakat perniagaan
menyifatkan tahun 1998 dan 1999
sebagai tahun yang amat getir dan
mencabar. Sungguhpun industri nombor
ramalan agak kukuh berbanding dengan
sektor lain, Pengendali Nombor Ramalan
(“NFO”) tidak terlepas daripada kesan
kegawatan ekonomi. Jumlah urusniaga
terus
meningkat
pertaruhan
purata
pengguna
lebih
tetapi
jumlah
merosot
kerana
berhati-hati
untuk
membelanjakan wang mereka. Industri
NFO
telah
menguncup
dan
para
pengusaha mencatat kadar pertumbuhan
negatif antara 4% ke 7%.
Namun demikian, perolehan Sports Toto
Malaysia Sdn Bhd (“Sports Toto”) hanya
susut sebanyak 0.5%, daripada RM2.16
bilion
pada
kepada
tahun
tahun
RM2.15
sebelumnya
bilion
dalam
pada
kajian.
Bagaimanapun, keuntungan
sebelum cukai merosot sebanyak
7.7%, daripada RM448.1 juta pada tahun
sebelumnya kepada RM413.6 juta. Punca
utama kemerosotan ini ialah kenaikan
cukai pertaruhan dan duti pertaruhan pool
yang berkuatkuasa pada 1 November 1998.
25
REVIEW
OF OPERATIONS
A Toto draw being
conducted in full
view of the public
in Malaysia.
tax and pool betting duty which
came into force on 1 November
1998.
Dalam
usaha
untuk
mengurangkan
kesan kenaikan cukai dan duti ke atas
margin keuntungan, semua pihak yang
terlibat dalam industri ini sebulat suara
In a concerted effort to mitigate the
impact of the increase in taxes and
duties on profit margins, the industry
players unanimously agreed to revise
the prize structure of the 4-Digit
game effective 1 April 1999. The
first prize payout was revised which
effectively reduced the prize payout
ratio of the 4-Digit game by about
2%. Sales were initially
affected by the reduced
prize monies but
recovered to normal
levels in May 1999.
bersetuju untuk menukar struktur hadiah
permainan 4-Digit, berkuatkuasa pada 1
April
1999.
Bayaran
untuk
hadiah
pertama telah dikurangkan, dan ini telah
mengurangkan nisbah bayaran hadiah
permainan 4-Digit sebanyak kira-kira
2%.
Langkah
ini
pada
mulanya
menjejaskan perniagaan, tetapi jualan
pulih semula pada bulan Mei 1999.
Pembelian 300 terminal
tambahan pada tahun
dalam
kajian
meningkatkan
During the year, the
company purchased an additional 300
terminals bringing the total number
of terminals from 1,900 to 2,200.
The additional terminals would be
used to meet the increasing demand
for the company’s range of products
and to reduce turnaround time
during peak sales hours.
Berjaya Sports Toto was
voted one of the ten
best-managed companies
in Malaysia for 1998/99
by Asiamoney magazine.
26
Sports Toto is now poised to ride on
the recovery of the country’s
economy as the NFO industry is
likely to be one of the first to benefit
due to the low average bet placed on
the products.
terminal
daripada
telah
jumlah
1,900
kepada 2,200 unit. Terminal tambahan
ini akan digunakan untuk memenuhi
permintaan yang semakin meningkat
dan mengurangkan masa pusing ganti
pada waktu sibuk.
Sports Toto sudah bersedia merebut
peluang-peluang daripada pemulihan
ekonomi negara, kerana industri NFO
dijangka menjadi salah satu daripada
industri pertama yang akan mendapat
manfaat daripada pemulihan ekonomi,
memandangkan
jumlah
pertaruhan
purata ke atas produknya adalah kecil.
REVIEW
OF OPERATIONS
O v e r s e a s In the Philippines,
draws for the existing four games
which are held six days a week were
revised with the Megalotto 6/45 and
4-Digit games held every Monday,
Wednesday and Friday while the
Lotto 6/42 and 6-Digit games are
held every Tuesday, Thursday and
Saturday.
A fifth game, called Superlotto 6/49,
is currently on the drawing board for
launching in the current financial
year.
To date, over 1,200 terminals have
been installed in more than 700
outlets in Manila and other cities in
the provinces of Luzon. An
additional 400 terminals purchased
during the year under review are
being prepared for installation in the
current financial year.
Luar
Negara
Di Filipina, cabutan
yang diadakan enam hari seminggu
untuk empat permainan yang sedia ada
telah diubah. Cabutan untuk Megalotto
6/45 dan permainan 4-Digit diadakan
setiap Isnin, Rabu dan Jumaat, manakala
cabutan untuk Lotto 6/42 dan permainan
6-Digit diadakan setiap Selasa, Khamis
dan Sabtu.
Permainan kelima, yang dinamakan
A Draw being conducted
in the Philippines.
Superlotto 6/49, dijangka akan dilancarkan
dalam tahun kewangan semasa.
Sehingga kini, lebih 1,200 terminal telah
dipasang di lebih 700 buah cawangan di
Manila dan bandar raya lain di daerah
Luzon. Sejumlah 400 terminal tambahan
yang dibeli pada tahun dalam kajian
sedang disediakan untuk dipasang pada
tahun kewangan semasa.
Di Ghana, cabutan untuk permainan
In Ghana, draws for the Super 5/90
and 6/40 Jackpot games are held
weekly on Tuesdays and Wednesdays
respectively.
There are currently over 100 off-line
PC-based terminals installed in the
capital city of Accra and other nearby
cities.
Super 5/90 dan Jackpot 6/40 masingmasing diadakan pada hari Selasa dan
Rabu setiap minggu.
Buat masa ini, lebih 100 terminal
berasaskan PC luar talian telah dipasang
di Accra, ibu negara Ghana dan bandarbandar berhampiran.
Communication Control Console,
which controls the entire data
communication network.
27
Review
of OPERATIONS
Tinjauan Operasi
Financial
SERVICES
STOCKBROKING
Inter-Pacific Capital Sdn
B h d recorded a turnover of RM66.4
million, a decrease of 44.3% as
compared to RM119.3 million in the
previous financial year. This was
mainly attributable to the weak stock
market conditions, especially during
the first half of the financial year.
Pre-tax profit recorded a decline from
RM250.1 million in the previous year
to RM38.5 million for the year under
review. This was mainly due to the
exceptional gain of RM176.8 million
made from the sale of a
subsidiary company, United
Traders Securities Sdn Bhd
in the previous year.
28
Triggered by the regional
currency crisis, the Malaysian
economy went through unprecedented
changes and challenges during the
past year. The sharp depreciation of
the Ringgit during the third quarter
of the last financial year which
resulted in tight liquidity conditions
and high interest rates, adversely
affected businesses and investors’
confidence. The stockbroking industry
went through an equally traumatic
period. Sharp reduction in trading
volumes and prolonged decline in
PERKHIDMATAN KEWANGAN
BROKER SAHAM
Inter-Pacific Capital Sdn
B h d mencatatkan perolehan sebanyak
RM66.4 juta, penyusutan 44.3%
berbanding RM119.3 juta pada tahun
sebelumnya disebabkan oleh keadaan
pasaran saham yang lembap terutama
dalam separuh pertama tahun kewangan.
Keuntungan sebelum cukai mencatatkan
pengurangan daripada RM250.1 juta
dalam tahun sebelumnya kepada RM38.5
juta bagi tahun di bawah kajian. Ini
berpunca daripada keuntungan luar biasa
sebanyak RM176.8 juta hasil daripada
penjualan anak syarikat, United
Traders Securities Sdn Bhd pada
tahun sebelumnya.
Pada tahun lalu, pelbagai
perubahan dan cabaran baru
mewarnai ekonomi Malaysia akibat
krisis kewangan serantau. Kejatuhan
mendadak nilai Ringgit dalam suku ketiga
tahun kewangan lepas yang mengakibatkan
keadaan kecairan yang ketat dan kadar
faedah yang tinggi telah menjejaskan
perniagaan dan menggugat keyakinan para
pelabur. Industri broker saham juga turut
menerima tamparan hebat. Kemerosotan
jumlah perdagangan secara mendadak dan
kejatuhan berlanjutan harga saham yang
disenaraikan di BSKL menyebabkan Indeks
Komposit Kuala Lumpur (“KLCI”) jatuh
REVIEW
OF OPERATIONS
prices of shares listed on the KLSE
caused the Kuala Lumpur Composite
Index (“KLCI”) to plunge to a low of
262.4 points on 1 September 1998
from 626.0 points at the end of April
1998. However, the selective
exchange and other capital control
measures introduced by the
Government in September 1998 to
stabilise the economy have put the
country back on the growth path.
The resultant lower interest rates and
improved liquidity has improved
business sentiment and investors’
confidence. This helped spur activity
in the stock market with the KLCI
now having surpassed 700 points.
menjunam kepada 262.4 mata pada 1
September 1998 daripada 626.0 mata pada
akhir April 1998. Walau bagaimanapun,
hasil daripada penetapan kadar pertukaran
dan langkah-langkah kawalan modal yang
diperkenalkan oleh Kerajaan pada bulan
September 1998, ekonomi negara kembali
stabil dengan mempamerkan prestasi yang
menggalakkan ke arah pertumbuhan
semula. Ini membawa kepada kadar faedah
yang lebih rendah dan peningkatan dalam
kecairan, sekali gus memperbaiki sentimen
pasaran dan memulihkan keyakinan
pelabur. Ekoran itu, aktiviti pasaran saham
kembali rancak di mana KLCI kini telah
berjaya melepasi 700 mata.
Our two stockbroking subsidiaries,
Inter-Pacific Securities Sdn Bhd
which is based in Kuala Lumpur and
Eng Securities Sdn Bhd in Johor
Bahru recorded satisfactory profits
despite the extremely volatile and
depressed stock market conditions.
In the derivatives market, InterPacific Futures Sdn Bhd, with
operations located in Johor Bahru
and Kuala Lumpur recorded an
increase in turnover and profit.
Dua anak syarikat broker saham kami,
Inter-Pacific Securities Sdn Bhd yang
berpusat di Kuala Lumpur dan Eng
Securities Sdn Bhd di Johor Bahru
berjaya mencatatkan keuntungan
yang memberangsangkan meskipun
menghadapi keadaan pasaran yang turun
naik dan lembap. Begitu juga dengan
Inter-Pacific Futures Sdn Bhd yang
beroperasi di Johor Bahru dan Kuala
Lumpur yang mampu mencatatkan
peningkatan dalam perolehan dan
keuntungan walaupun pasaran jelas
merosot.
Inter-Pacific Capital continues to
focus on its core stockbroking and
futures broking businesses. To expand
its operations and to increase its
revenue, it is continually taking
proactive steps to increase its remisier
Inter-Pacific Capital terus menumpukan
perhatian terhadap perniagaan broker
sahamnya yang utama dan perniagaan
broker saham akan datang. Pelbagai
langkah proaktif terus dilaksanakan
dalam memperluaskan asas remiser dan
Inter-Pacific Securities’
viewing gallery.
Eng Securities’ office
building in Johor Bahru.
29
REVIEW
OF OPERATIONS
At Berjaya General
Insurance, we
believe in efficient
and reliable service
to the customers.
and futures brokers’ representative
base. In view of the country’s
improving economy and the
encouraging increase in volume of
transactions on the KLSE and The
Kuala Lumpur Options and Financial
Futures Exchange, Inter-Pacific
Capital anticipates that its operating
results for the financial year ending 30
April 2000 will be much improved.
GENERAL INSURANCE
30
Berjaya General Insurance
Berhad For the year under review,
the company’s gross written premium
contracted by RM20.4 million from
RM184.8 million to RM164.4
million, reflecting a decline of
11.04% due mainly to the effect of
the economic slowdown. Net written
premium however, decreased at a
slower rate of 9.1% from RM103.6
million to RM94.2 million due to a
positive increase in retention ratio
from 56.1% to 57.3%. Despite the
reduction in business volume, the
company achieved an underwriting
profit
of
RM10.4
million,
representing a growth of 33% against
the RM7.8 million underwriting
profit recorded in the previous year.
This was attributable to an improved
claims ratio as the company
continued to remain prudent in its
approach towards underwriting and
judicious control of management
expenses. Together with investment
and other income of RM15.7 million
and after providing for additional
provision for diminution in value of
investment of RM7.1 million, the
company recorded an operating profit
before taxation of RM19.0 million
broker saham pada masa akan datang
bagi memperkembangkan operasinya
dan menambahkan hasil. Berdasarkan
pemulihan ekonomi negara dan jumlah
urus niaga di BSKL dan ‘Bursa Opsyen
dan Kewangan Hadapan Kuala Lumpur’
yang memperlihatkan peningkatan yang
menggalakkan, Inter-Pacific Capital
dijangka mempamerkan keputusan
operasi yang memberangsangkan bagi
tahun kewangan berakhir 30 April 2000.
INSURANS AM
Berjaya General Insurance
B e r h a d Bagi tahun di bawah kajian,
premium bertulis kasar syarikat susut
RM20.4 juta atau 11.0% daripada
RM184.8 juta kepada RM164.4 juta.
Walau bagaimanapun, premium bertulis
kasar jatuh pada kadar yang lebih
rendah sebanyak 9.1% daripada RM103.6
juta kepada RM94.2 juta disebabkan
oleh peningkatan positif dalam nisbah
simpanan daripada 56.1% kepada
57.3%. Meskipun jumlah perdagangan
merosot, syarikat berjaya mengutip
keuntungan tajajamin sebanyak RM10.4
juta iaitu peningkatan 33% berbanding
RM7.8 juta yang dicatatkan sebelum ini.
Pencapaian yang membanggakan ini
banyak dibantu oleh peningkatan nisbah
tuntutan, selaras dengan amalan
berhemat yang dilaksanakan untuk
tajajamin dan langkah bijak dalam
mengawal perbelanjaan pengurusan.
Beserta pelaburan dan pendapatan lain
sebanyak RM15.7 juta dan selepas
mengambil kira peruntukan tambahan
untuk rosot nilai pelaburan sebanyak
RM7.1 juta, syarikat mencatatkan
keuntungan operasi selepas cukai
sebanyak RM19.0 juta berbanding
kerugian operasi sebanyak RM36.7 juta
pada tahun sebelumnya.
REVIEW
OF OPERATIONS
compared to an operating loss of
RM36.7 million registered last year.
The establishment of the health
insurance department to write
hospitalisation and medical insurance
proved timely and fruitful. The
products catering for the current
high cost of medical treatment are
also well-received. The latest product
namely ‘B-Health Plus’ which
provided additional top-up protection
for the existing Berjaya Group
Employee Scheme also proved to be
popular.
The company recognised the need to
ensure that Year 2000 compliance
issues would not adversely impact its
operations. To address this, the
company undertook an assessment of
all its computer software using the
British Standard Institute DISC
PD2000-1, “Definition of Year 2000
Conformity Requirements”. From
the results of the exercise, the
company is proud to announce that
its computer hardware and software
used for electronic data processing
have achieved Y2K readiness. In
addition, the company has formulated
a business resumption contingency
plan to ensure that there is business
continuity and to minimise
business interruption
in the event of Year
2000 failure covering all
possible scenarios.
Liquidity in the monetary market is
expected to remain high which
would result in declining interest
rates. This is expected to affect our
investment income in terms of
interest earned from fixed deposits.
However, with the increasing
activities and renewed confidence in
the stock market, we also expect
better returns from our investment in
quoted equities. With positive signs
of economic recovery on the horizon,
we expect the demand for insurance
products to increase which augurs
well for the insurance industry.
Penubuhan jabatan insurans kesihatan
untuk menajajamin insurans hospital dan
perubatan adalah tepat pada masanya
dan nyata membuahkan hasil. Produkproduk yang diperkenalkan untuk
membiayai kos rawatan perubatan juga
telah mendapat sambutan yang baik.
Produk terbaru iaitu ‘B-Health Plus’ yang
menyediakan perlindungan tambahan
untuk Skim Kakitangan Kumpulan Berjaya
sedia ada turut mendapat sambutan yang
menggalakkan.
Syarikat sedar bahawa isu pematuhan
Tahun 2000 tidak boleh dipandang
ringan kerana ianya boleh menjejaskan
operasi syarikat. Bagi mengatasi isu
tersebut, syarikat telah menjalankan
penilaian terhadap semua perisian
komputernya dengan menggunakan
‘British Standard Institute DISC PD20001’, “Definition of Year 2000 Conformity
Requirements”. Berpandukan keputusan
penilaian tersebut, syarikat dengan
bangganya mengumumkan bahawa
perkakasan dan perisian syarikatnya yang
digunakan untuk memproses data
elektronik adalah menepati persediaan
Y2K.
Selain
itu,
syarikat
turut
merumuskan satu rancangan luar jangka
perniagaan bagi menjamin kelancaran
operasi
perniagaannya
dan
mengurangkan sebarang gangguan yang
mungkin dihadapi menjelang Tahun
2000.
Pasaran kewangan dijangka
terus
memperlihatkan
kecairan yang tinggi, sekali
gus membawa kepada kadar
faedah yang lebih rendah. Keadaan ini
dijangka boleh menjejaskan pendapatan
pelaburan kami bagi faedah daripada
deposit tetap. Walau bagaimanapun,
melalui
peningkatan
aktiviti
dan
kebangkitan semula keyakinan dalam
pasaran saham, kami menjangka akan
memperolehi pulangan yang lebih baik
hasil daripada pelaburan kami dalam
ekuiti disebut harga. Terdapat tandatanda yang menunjukkan ekonomi
Malaysia akan kembali pulih selepas ini
dan dengan itu, permintaan untuk produk
insurans dijangka meningkat. Ini
merupakan satu petanda baik kepada
industri insurans.
31
REVIEW
OF OPERATIONS
Printing machines
under lease from
Prime Credit Leasing.
Machinery financed by
Prime Credit Leasing.
HIRE
PURCHASE
LEASING
AND
Prime Credit Leasing Sdn
B h d Operating revenue for the
financial year declined significantly
by 30% from RM35.2 million to
RM24.8 million due to tight liquidity
coupled with the high cost of fund
which collectively hindered the
company from competing favourably
to maintain its market share.
32
SEWA BELI DAN PAJAKAN
Prime Credit Leasing Sdn Bhd Hasil
operasi bagi tahun kewangan merosot
30% daripada RM35.2 juta kepada
RM24.8 juta ekoran daripada kecairan
yang ketat ditambah dengan kos dana
yang tinggi. Keadaan ini menyebabkan
syarikat tidak dapat memberi saingan
hebat dalam mengekalkan penguasaan
pasarannya.
However, the company recorded a
pre-tax profit of RM252,000 during
the year, a turnaround from a pre-tax
loss of RM691,000 in the previous
year. This was mainly due to a lower
provision for doubtful debt coupled
with lower realised losses incurred on
the disposal of quoted shares during
the year.
Walau bagaimanapun, syarikat berjaya
mencatatkan keuntungan sebelum cukai
sebanyak RM252,000 dalam tahun
kewangan, satu pencapaian berbanding
kerugian sebelum cukai sebanyak
RM691,000 pada tahun sebelumnya. Ini
berikutan peruntukan yang lebih rendah
bagi hutang ragu beserta kerugian
ditunaikan yang lebih rendah berikutan
pelupusan saham disebut harga dalam
tahun kewangan.
With the Malaysian economy on the
recovery path, the company will
continue to concentrate on providing
machinery financing to the
manufacturing sector which is the
major contributor for the economy.
Ekonomi Malaysia mula melangkah ke
fasa pemulihan dan sejajar dengan ini,
syarikat akan terus menitikberatkan
penyediaan pembiayaan jentera untuk
sektor pembuatan yang merupakan
penyumbang utama kepada ekonomi.
The company will also intensify its
motor vehic les and consumer
durables financing as well as share
financing in view of declining
interest rates and rising liquidity.
Syarikat juga akan turut melipatgandakan
pembiayaan kenderaan bermotor dan
pembiayaan barangan pengguna yang
tahan lama serta pembiayaan saham
berdasarkan kadar faedah yang lebih
rendah dan peningkatan kecairan.
Review
of OPERATIONS
Tinjauan Operasi
Hotels, Resorts &
Recreation DEVELOPMENT
RESORTS
HOTEL, RESORT & PEMBANGUNAN
REKREASI
Berjaya Hotels & Resorts (“BHR”)
continues its relentless pursuit to be
one of the best home grown “owneroperated” hospitality chains in
Malaysia. During the year under
review, BHR maintained its upward
growth trend and improved its
performance despite the difficult
business conditions. The tourism
industry was adversely affected not
only by the economic turmoil and
haze but also by the “La
Nina” and “El Nino”
weather phenomenon, the
water rationing crisis and
the Japanese Encephalitis
and Nipah Virus outbreak.
Berjaya Hotels & Resorts (“BHR”) terus
giat melaksanakan pelbagai usaha untuk
turut tersenarai dalam rangkaian
perkhidmatan perhotelan terbaik dalam
negara yang “dikendalikan sendiri” di
Malaysia. Dalam tahun di bawah kajian,
BHR mengekalkan aliran peningkatan
pertumbuhannya dan pada masa yang
sama memperbaiki lagi prestasinya
meskipun berhadapan dengan keadaan
perniagaan
yang
sukar.
Industri
pelancongan terjejas dengan teruk bukan
hanya disebabkan oleh kegawatan
ekonomi dan jerebu, malah akibat
fenomena cuaca “La Nina” dan “El Nino”,
krisis pencatuan air dan wabak Japanese
Encephalitis serta Virus Nipah.
HOTELS AND
DEVELOPMENT
Due to the declining tourist
arrivals in Malaysia from 6.2
million in 1997 to 5.5
million in 1998, both the
Government and the
private sector have taken proactive
actions to compete against other
regional destinations to attract the
elusive foreign tourist dollar. BHR
ventured into new markets and
repeatedly launched innovative and
creative “value for money” packages
backed by excellent services. These
strategies and our proactive
Berikutan kemerosotan bilangan
pelawat yang mengunjungi
Malaysia dari 6.2 juta pada
tahun 1997 kepada 5.5 juta
pada tahun 1998, kedua-dua
sektor Kerajaan dan swasta
telah melaksanakan langkahlangkah proaktif untuk menyaingi
destinasi-destinasi serantau lain demi
menarik dolar pelancong asing. BHR
telah menceburi pasaran-pasaran baru
dan sentiasa melancarkan pakej-pakej
inovatif dan kreatif “nilai untuk wang”
dengan menawarkan perkhidmatan yang
unggul. Strategi-strategi ini beserta
langkah-langkah proaktif yang telah
33
REVIEW
OF OPERATIONS
Tinjauan Operasi
Berjaya Langkawi Beach
& Spa Resort, Malaysia a chalet-styled room.
Berjaya Mahe Beach
Resort, Seychelles.
implementation helped retain and in
some properties improve occupancies.
Austerity measures implemented
throughout the Group also helped
improved the bottom line. Our
overseas hotels in Seychelles,
Mauritius, Fiji, Sri Lanka and
London also continued to do well.
BHR has the distinction to host
prestigious international events. In
November 1998, Berjaya Mahe
Beach Resort in Seychelles
hosted the Miss World
1998 where Ms. Lina Teoh
from Malaysia emerged as
the 2nd Runner Up. Berjaya
Langkawi Beach & Spa Resort
hosted the Le Tour De Langkawi
successfully for the fourth year
running, the APEC meeting and the
Langkawi International Dialogue.
Berjaya Praslin Beach
Resort, Seychelles.
34
VACATION TIME-SHARE
With the restructuring programme
of placing Berjaya Hotels & Resorts
properties under the umbrella of
Berjaya Vacation Club (“BVC”), the
Club managed to enhance its image
as one of the most credible timeshare companies in Malaysia.
BVC again captured one of the most
prestigious awards in the industry,
The Gold Crown Resort 1998 status
for Berjaya Tioman Suites. The
award is given based on members’
comments on the Club’s services and
has only been given to less than 5%
of the total of 3,600 resorts under
the club affiliation with Resort
Condominiums International (“RCI”).
RCI is the world’s largest vacation
exchange company with more than 3
million members.
dilaksanakan membantu mengekalkan
dan dalam beberapa hartanah meningkatkan
kadar penginapan. Langkah berhemat
yang telah dilaksanakan di semua
peringkat Kumpulan turut membantu
meningkatkan hasil keuntungan.
Rangkaian hotel kami di luar negara
iaitu Seychelles, Mauritius, Fiji, Sri Lanka
dan London juga terus memperlihatkan
prestasi yang memuaskan.
BHR memiliki pelbagai keistimewaan dan
kelebihan tersendiri sebagai tuan
rumah acara antarabangsa.
Pada bulan November 1998,
Berjaya Mahe Beach Resort di
Seychelles dipilih menjadi tuan rumah
pertandingan ratu cantik Miss World 1998
di mana peserta dari Malaysia, Cik Lina
Teoh telah berjaya memenangi tempat
kedua. Berjaya Langkawi Beach & Spa
Resort dengan jayanya menjadi tuan
rumah Le Tour De Langkawi selama
empat tahun berturut-turut dan turut
dipilih sebagai tuan rumah mesyuarat
APEC dan Dialog Antarabangsa Langkawi.
PERCUTIAN
PERKONGSIAN
M A S A Melalui program penyusunan
semula di mana hartanah Berjaya Hotels
& Resorts kini berada di bawah Berjaya
Vacation Club (“BVC”), BVC berjaya
menaikkan imejnya sebagai salah sebuah
daripada syarikat perkongsian masa yang
paling unggul di Malaysia.
BVC sekali lagi berjaya
menggondol salah satu
anugerah industri yang paling
berprestij, The Gold Crown Resort 1998
bagi Berjaya Tioman Suites. Anugerah ini
diterima berdasarkan komen ahli-ahli
mengenai perkhidmatan Kelab dan hanya
diberikan kepada kurang 5% daripada
semua 3,600 pusat peranginan di bawah
penggabungan BVC dengan Resort
Condominiums International (“RCI”). RCI
merupakan syarikat pertukaran percutian
REVIEW
OF OPERATIONS
Tinjauan Operasi
Despite the economic slowdown in
1998, BVC still manage to stage a
credible performance by increasing
its membership base to more than
7,000 compared to 5,000 a year
earlier.
CLUBS AND RECREATION
Our golf and recreation clubs had a
difficult year in view of the economic
slowdown. Throughout Malaysia,
golf and recreation clubs had been
offering various creative “value for
money” packages in order to attract
new memberships. Our clubs did not
only have to compete with other
clubs but also with other hotels and
restaurants for the food and beverage
business.
Bukit Kiara Equestrian and Country
Resort continued in its effort to
build its image as one of Malaysia’s
premier equestrian resorts and is a
popular venue for VIP functions and
social events. The Club’s membership
at the financial year end stood at
approximately 4,400.
Bukit Jalil Golf & Country Resort,
with an international standard 18hole golf course, and strategically
located in the heart of the Multimedia
Super Corridor continued to record
an impressive growth in membership
during the financial year. With the
recruitment of 760 new members
during the year, the club has reached
a membership of approximately
4,400. In November 1998, the
club’s joint-efforts with Standard
Chartered Bank Malaysia to launch
terbesar di dunia dengan lebih 3 juta
orang ahli.
Meskipun
menghadapi
kegawatan
ekonomi pada tahun 1998, BVC masih
mampu mempamerkan prestasi yang
memuaskan apabila berjaya menambahkan
jumlah keahliannya kepada lebih 7,000
ahli berbanding 5,000 ahli pada tahun
sebelumnya.
K E L A B D A N R I A D A H Kelab-kelab
golf dan riadah menempuhi pelbagai
cabaran pada tahun di bawah kajian
akibat kegawatan ekonomi. Kelab-kelab
golf dan riadah di seluruh Malaysia telah
menawarkan pelbagai pakej kreatif “nilai
untuk wang” bagi menarik ahli-ahli baru.
Kelab kami bukan sahaja terpaksa
bersaing dengan kelab-kelab lain malah
dengan hotel-hotel dan restoran-restoran
lain
yang
turut
mengendalikan
perniagaan makanan dan minuman.
Kelab Darul Ehsan, Kuala
Lumpur - pool view.
Bukit Kiara Equestrian & Country Resort
meneruskan usahanya untuk menaikkan
imejnya sebagai salah sebuah pusat
peranginan dengan kelengkapan
menunggang kuda terulung di Malaysia.
Kelab ini juga sentiasa menjadi pilihan
dalam menganjurkan majlis-majlis VIP
dan keraian sosial. Kelab kini mempunyai
kira-kira 4,400 orang ahli pada akhir
tahun kewangan.
Bukit Jalil Golf & Country Resort yang
menyediakan padang golf 18 lubang dan
terletak di lokasi strategik di tengahtengah Koridor Raya Multimedia,
terus mencatatkan pertumbuhan
memberangsangkan dari segi keahlian
dalam
tahun
kewangan.
Dengan
kemasukan 760 ahli baru dalam tahun di
bawah kajian, jumlah ahli kelab kini
dianggarkan kira-kira 4,400 orang. Pada
Beautiful chalets at Berjaya Tioman
Beach Resort, Malaysia.
Bukit Jalil Golf & Country
Resort, Kuala Lumpur.
35
REVIEW
OF OPERATIONS
Berjaya Tioman Suites in
Tioman Island, Malaysia.
the Bukit Jalil-Standard Chartered
Bank Membership Card to provide
greater value-added services to its
members.
Desa WaterPark, Kuala Lumpur a family entertainment park
offering a whole range of water
recreation facilities.
In spite of the increasing number of
golf clubs having 18 and 36 holes,
Kelab Darul Ehsan continued to
maintain its popularity serving a
niche to the commercial and
residential clientele in Ampang
township. The Club’s membership
stood at approximately 4,200 at the
financial year end. There were various
membership drives implemented
throughout the year to encourage
the new neighbouring
residents to join the
club.
The Tioman Island Golf
Club located on Tioman
Island, Pahang with an
international standard 18hole golf course is affiliated
with 14 other clubs in the region.
The membership strength stood at
1,700 at the financial year end.
Desa WaterPark, one of Kuala
Lumpur’s largest family entertainment
water themeparks, is located on a
13.6-acre site. The water themepark
which offers a full range of water
recreation facilities opened its door
to the public on 27 July 1998.
Amongst the popular rides offered by
the park are Thunderbolt - the first
gravity-defying water coaster in Asia,
Surf Shack, Splash Out, Super Tube
and etc.
36
bulan November 1998, kelab telah
berganding bahu dengan Standard
Chartered Bank Malaysia melancarkan
Kad Keahlian Bukit Jalil-Standard
Chartered
Bank
dalam
usahanya
menyediakan perkhidmatan tambah nilai
yang lebih unggul kepada ahli-ahlinya.
Walaupun bilangan kelab golf yang
menyediakan padang golf 18 lubang dan
36 lubang kian bertambah, Kelab Darul
Ehsan masih menjadi pilihan ramai
dengan menawarkan perkhidmatan
kepada pelanggan komersil dan penghuni
perbandaran Ampang. Kelab kini
mempunyai kira-kira 4,200 ahli pada
akhir tahun kewangan. Pelbagai kempen
keahlian turut dianjurkan sepanjang
tahun bagi menggalakkan
penghuni baru berdekatan
menganggotai kelab.
Tioman Island Golf Club , terletak
di Pulau Tioman, Pahang dan
dilengkapi padang golf
18 lubang bertaraf
antarabangsa telah bekerjasama
dengan 14 kelab lain di rantau ini.
Keahliannya mencecah bilangan 1,700
orang bagi akhir tahun kewangan.
Desa WaterPark merupakan salah sebuah
taman tema air hiburan sekeluarga yang
terbesar di Kuala Lumpur dan terletak di
tapak seluas 13.6 ekar. Taman air yang
menawarkan kemudahan-kemudahan
riadah air sepenuhnya ini dibuka kepada
orang ramai pada 27 Julai 1998. Antara
permainan yang paling digemari di taman
tersebut adalah Thunderbolt - permainan
‘roller coaster’ melawan air pertama di
Asia, Surf Shack, Splash Out, Super Tube
dan lain-lain lagi.
Review
of OPERATIONS
Tinjauan Operasi
Property Investment
& DEVELOPMENT
PROPERTY INVESTMENT
The Group’s commercial properties
located in the golden triangle of
Kuala Lumpur namely Wisma
Cosway, KL Plaza, Plaza Berjaya
and
Kompleks
Kota
Raya
experienced lower occupancy rates
of between 67% to 75% during the
year compared to the rates of
between 79% to 100% in the
previous year. The decline was due
to the economic downturn that has
resulted in some non-renewal and
termination of the rental contracts.
Berjaya Megamall, Kuantan has
achieved 71% occupancy rate since
its opening at the end of June 1998.
The occupancy rate is expected to
reach 81% by year 1999/2000. The
growth would be driven by our
aggressive and innovative marketing
strategies in leasing retail shops and
an active advertising and promotion
programme. Special arrangements
were also made with Star Cruise
and other tourism agencies
to position Berjaya Megamall as a
one-stop shopping mall for cruise
tourists coming to the East Coast.
PELABURAN & PEMBANGUNAN
HARTANAH
P E L A B U R A N
H A R T A N A H
Hartanah komersil Kumpulan yang
terletak di segi tiga emas Kuala Lumpur
iaitu Wisma Cosway, KL Plaza, Plaza
B e r j a y a dan K o m p l e k s K o t a R a y a
menikmati kadar penginapan yang lebih
rendah di antara 67% hingga 75% dalam
tahun di bawah kajian berbanding di
antara 79% hingga 100% pada tahun
sebelumnya. Kemerosotan ini adalah
disebabkan oleh kegawatan ekonomi
yang mengakibatkan beberapa kontrak
penyewaan tidak diperbaharui semula
dan ada yang ditamatkan terus.
Berjaya Megamall , Kuantan berjaya
mencatatkan kadar penginapan 71%
sejak pembukaannya pada akhir bulan
Jun 1998. Kadar penginapan dijangka
mencecah paras 81% menjelang tahun
1999/2000 melalui pelaksanaan strategistrategi pemasaran baru dan agresif
dalam pajakan kedai-kedai runcit dan
program pengiklanan dan promosi yang
giat dijalankan. Persiapan-persiapan khas
turut diadakan melalui kerjasama dengan
Star Cruise dan agensi-agensi pengiklanan
lain untuk membolehkan Berjaya Megamall
muncul sebagai sebuah pusat membelibelah persinggahan untuk pelancongpelancong yang menggunakan pelayaran
persiaran untuk mengunjungi Pantai Timur.
37
Wisma Cosway,
Kuala Lumpur
REVIEW
OF OPERATIONS
Plaza Berjaya,
Kuala Lumpur.
PROPERTY DEVELOPMENT
PEMBANGUNAN HARTANAH
The country’s economic slowdown
and currency turmoil have resulted in
a drastic reduction in property
transaction. However, towards late
1998 and early 1999, the Government’s
support in the implementation of
various policies and incentives to spur
the property sector especially the
residential sub-sector of the property
market has helped tremendously.
Kegawatan
ekonomi
dan
krisis
kewangan negara telah menyebabkan
urusniaga pasaran hartanah merosot
dengan drastik. Walau bagaimanapun,
menjelang akhir tahun 1998 dan awal
tahun 1999, hasil sokongan dan
pelaksaan pelbagai dasar dan insentif
oleh Kerajaan bagi membantu sektor
hartanah khasnya sektor kecil hartanah
telah banyak membantu memulihkan
keadaan.
For the financial year ended
1998/99, the Property Division has
been concentrating their resources on
the planning and procuring of the
necessary government approvals and
development of some of the landbank.
The Property Division also
participated in the “Home Ownership
Campaign” in December 1998 which
was organised by the Government.
During the one month campaign
which was a roaring success, the
Property Division sold 113 units of
housing stocks with a total sales value
of about RM20.6 million.
ON-GOING
PROJECTS
The majority of the on-going projects
currently undertaken by the Property
Division is concentrated in the Klang
Valley. For the financial year ended
1998/99, the Property Division
completed 620 units of the
properties. Currently, there are about
700 units of properties under various
stages of construction and about 86%
of these units are due for completion
before the new millennium.
38
Berjaya
Megamall,
Kuantan.
Bagi tahun kewangan 1998/99, sumber
Bahagian Hartanah digunakan bagi
membantu usaha mereka dalam
memperolehi kelulusan Kerajaan dan
membangunkan beberapa kawasan hak
milik mereka.
Bahagian Hartanah turut mengambil
bahagian dalam ‘Kempen Pemilikan
Rumah’ yang telah dianjurkan oleh
Kerajaan pada bulan Disember 1998.
Semasa kempen selama sebulan yang
telah mendapat sambutan hangat
tersebut, Bahagian Hartanah berjaya
menjual sebanyak 113 unit stok
perumahan dengan nilai jualan yang
dianggarkan berjumlah RM20.6 juta.
PROJEK SEDANG DIJALANKAN
Kebanyakan projek Bahagian Hartanah
yang sedang dijalankan adalah tertumpu
di Lembah Klang. Bagi tahun kewangan
1998/99, Bahagian Hartanah berjaya
menyiapkan 620 unit hartanah. Pada
masa ini, kira-kira 700 unit hartanah
sedang dalam pelbagai peringkat
pembinaan dan kira-kira 86% daripada
unit-unit ini dijangka siap sebelum alaf
baru.
REVIEW
OF OPERATIONS
Greenfields Apartments, a residential
development situated in the Klang
Valley was launched in late 1995.
Phase 1 (326 units) has been
completed and Phase 2 (156 units) is
expected to be completed by the end
of 1999. About 91% of the 482 units
launched were sold for a total sales
value of RM93.7 million.
Greenfields Apartments, sebuah projek
pembangunan kediaman yang terletak di
Lembah Klang telah dilancarkan pada
akhir tahun 1995. Fasa 1 (326 unit) telah
disiapkan manakala Fasa 2 (156 unit)
dijangka siap menjelang akhir tahun
1999. Kira-kira 91% daripada 482 unit yang
telah dilancarkan berjaya dijual dengan
nilai jualan sebanyak RM93.7 juta.
Our first industrial development,
Berjaya Industrial Park Phase 1,
located in Jalan Kebun, Kelang,
consists of 36 industrial lots
spreading over a nett land area of
104.25 acres, was completed in 1998.
Within the same development, 112
units of single-storey link houses
were launched since May 1998 and to
date about 86% have been sold.
Projek pembangunan perindustrian
pertama kami, Taman Perindustrian
Berjaya Fasa 1 yang terletak di Jalan
Kebun, Klang dan terdiri daripada 36 lot
perindustrian yang meliputi kawasan
seluas lebih 104.25 ekar berjaya
disiapkan pada tahun 1998. Di bawah
projek pembangunan yang sama, 112
unit rumah berkembar satu tingkat telah
dilancarkan sejak bulan Mei 1998 dan
setakat ini, kira-kira 86% telahpun dijual.
FUTURE DEVELOPMENTS
Berjaya Land has approximately
3,000 units of property under its
portfolio which are categorised in the
medium-cost price range. We are at
the final stage of procuring approvals
for another approximately 1,500 units.
PEMBANGUNAN AKAN DATANG
Berjaya Land kini memiliki kira-kira
3,000 unit hartanah kos sederhana
dalam portfolionya. Kami kini dalam
proses akhir untuk memperolehi
kelulusan bagi kira-kira 1,500 unit lagi.
From our market observation and the
encouraging take-up rates for the
terrace houses in Berjaya Industrial
Park, conventional terrace housing
development with pricing below
RM250,000 is the preferred type of
properties. Hence, we are planning to
launch the remaining 405 units of
double-storey terrace houses in
Blueberry double-storey link
houses at Berjaya Industrial
Park launched in 1999.
Berdasarkan pemerhatian dan tinjauan
pasaran serta peningkatan kadar rumah
teres yang menggalakkan di Taman
Perindustrian Berjaya , pembangunan
rumah teres biasa di bawah paras harga
RM250,000 ternyata menjadi pilihan.
Oleh itu, kami bercadang untuk
melancarkan penjualan 405 unit rumah
teres berkembar di Taman Perindustrian
Berjaya secara berperingkat-peringkat.
39
Greenfields Apartments at Bukit
Jalil, Kuala Lumpur.
REVIEW
OF OPERATIONS
Tinjauan Operasi
Robson
Condominiums,
Kuala Lumpur.
Berjaya Industrial Park in stages. The
total sales value of these units is about
RM77.7 million.
The other significant project which is
scheduled to be launched before the
new millennium is the 1,240 units of
Springfields apartments at Bukit Jalil
Golf & Country Resort. With its
location in an established resort and
close proximity to the LRT station,
we are confident that this project will
generate a sales value of about
RM140.0 million.
M A R K E T O U T L O O K The over
supply of commercial property in the
market is expected to dampen the
progress of the Group’s investment in
this sub-sector of the property
market. However, the residential
sector, which appears to have
bottomed out, is heading for better
times. The improved market
sentiment with lower interest rates
coupled with the maximum
lending rates given for loans for
low and medium cost residential
properties will be an added boost
for the residential property
market.
Mulberry double-storey link
houses at Berjaya Industrial
Park launched in 1999.
40
Anticipating a growing
demand for medium cost properties
and the available 3,000 units of
medium cost properties scheduled to
be launched this year, the Property
Division is all geared up to capture a
major market share.
Nilai jualan unit-unit ini dianggarkan
berjumlah RM77.7 juta.
Projek penting yang turut dijadualkan
untuk dilancarkan sebelum alaf
baru adalah 1,240 unit pangsapuri
Springfields di Bukit Jalil Golf & Country
Resort. Berdasarkan lokasinya di pusat
peranginan yang sudah mencipta nama
dan kedudukannya yang berdekatan
dengan stesen LRT, kami percaya
bahawa projek ini akan menghasilkan
nilai jualan yang dianggarkan berjumlah
RM140.0 juta.
T I N J A U A N P A S A R A N Hartanah
komersil yang berlebihan di pasaran
dijangka memalapkan perkembangan
pelaburan Kumpulan dalam sektor
kecil pasaran hartanah ini. Walau
bagaimanapun, sektor kediaman yang
kelihatan jatuh ke paras yang paling
rendah, kini didapati semakin pulih.
Peningkatan sentimen pasaran ditambah
dengan kadar faedah yang lebih
rendah serta kadar pinjaman yang
maksimum untuk hartanah kediaman
kos rendah dan sederhana akan
menggalakkan lagi pasaran
hartanah kediaman.
Seiring dengan permintaan
yang dijangka meningkat bagi
hartanah kos sederhana dan
hartanah kos sederhana sedia ada
sebanyak 3,000 unit yang dijadualkan
dilancarkan pada tahun ini, Bahagian
Hartanah kini bersiap-sedia untuk
menguasai bahagian utama pasaran.
Review
of OPERATIONS
Tinjauan Operasi
Consumer Marketing
& DIRECT SELLING
Cosway (M) Sdn Bhd continued to
show improved results despite the
economic downturn. Turnover rose by
8% and profit before tax increased by
14%. The commendable performance
was attributed to the successful
introduction of new products and
continuous growth in our membership
base. The growth in membership was
attributed to improvements made
to the marketing plan and rebate
vouchers introduced for new
members and renewals.
Four new redemption
centres were opened during
the year in Kota Bharu, Kuching,
Seremban and Kuala Terengganu,
bringing the total redemption
centres to 14 throughout Malaysia.
For the coming year, we plan to set up
four more centres in Malaysia.
Our international operations were
adversely affected by the regional
economic meltdown. Inroads into
new markets in Brazil, Mexico and
Thailand were badly hampered by
weak consumer spending, higher
product costs and stiff competition.
As a result, revenues were not
sufficient to cover the start-up costs of
these operations.
PEMASARAN PENGGUNA
JUALAN LANGSUNG
&
Cosway (M) Sdn Bhd terus mempamerkan
keputusan yang menggalakkan sekalipun
menghadapi kegawatan ekonomi.
Perolehan naik 8% manakala keuntungan
sebelum cukai meningkat 14%. Prestasi
yang membanggakan ini adalah hasil
daripada kejayaan produk-produk
yang baru diperkenalkan dan
peningkatan keahlian dengan
kemajuan dalam rancangan
pemasaran dan baucar
potongan untuk ahli-ahli baru
dan ahli yang mendaftar semula.
Empat pusat baru Penebusan telah
dibuka dalam tahun kajian di Kota
Bharu, Kuching, Seremban dan Kuala
Terengganu. Ini menjadikan jumlah pusat
tersebut di seluruh Malaysia 14
kesemuanya. Bagi tahun akan datang,
kami bercadang untuk menubuhkan
empat lagi pusat sedemikian di Malaysia.
Operasi kami di luar negara terjejas
dengan teruk akibat kegawatan ekonomi
serantau. Usaha kami untuk menembusi
pasaran-pasaran baru di Brazil, Mexico
dan Thailand menempuhi pelbagai
halangan
berikutan
kemerosotan
perbelanjaan pengguna, kos produk
yang lebih tinggi dan persaingan yang
41
REVIEW
OF OPERATIONS
Tinjauan Operasi
Personal care products from Cosway.
For the coming financial year, we
anticipate continuous strong sales
growth for our Malaysian operations
and a slightly improved performance
from our international operations.
Fruit and vegetable juice
complex from Cosway.
In an unprecedented high interest
rates regime in the country prior to
the imposition of selective capital
controls, Singer (Malaysia) Sdn Bhd’s
business was put to severe test for the
first time in many years. The
economic crisis caused a drastic drop
in consumer consumption and trading
conditions were extremely challenging.
Household electrical products and the
domestic furniture industry suffered a
decline in sales despite the various
promotional programmes conducted
by market players to maintain
their competitiveness.
Like many other market
players who reported lower
turnovers
and
reduced
margins, Singer registered an
8% drop in turnover for the year
under review. While we expected the
year to be very challenging, we
embarked on austerity measures to
reduce operational expenditure. Other
measures were also taken to improve
efficiency and productivity to
maintain our competitiveness in the
market.
Amid the difficult business conditions,
we stepped up our support for our
sales force by intensifying our
advertising and sales promotion
42
hebat. Ekoran itu, hasil yang diperolehi
adalah tidak mencukupi bagi menampung
kos awal operasi-operasi ini.
Bagi tahun kewangan akan datang,
operasi kami di Malaysia dijangka terus
mempamerkan
pertumbuhan
yang
mantap dengan turut memperlihatkan
sedikit peningkatan dalam prestasi
operasi di luar negara.
Dengan penetapan kadar faedah yang
tinggi
dalam
negara
sebelum
pelaksanaan kawalan modal terpilih,
perniagaan Singer (Malaysia) Sdn Bhd
menghadapi cabaran hebat buat
pertama kali sejak beberapa tahun.
Penggunaan ke atas barangan pengguna
merosot secara drastik manakala
keadaan perniagaan begitu mencabar
akibat kegawatan ekonomi.
Penjualan barangan elektrik
kegunaan rumah dan industri
perabot
domestik
telah
merosot walaupun pelbagai
program
promosi
telah
dijalankan oleh peserta-peserta
pasaran bagi mengekalkan kelebihan
daya saing mereka.
Seperti kebanyakan peserta-peserta lain
dalam pasaran yang mencatatkan
perolehan yang lebih rendah dan
kemerosotan margin keuntungan, Singer
mencatatkan penyusutan 8% dalam
perolehan pada tahun di bawah kajian.
Sebelum ini kami memang menjangka
tahun kajian adalah tahun yang
mencabar di mana pelbagai langkah
berhemat telah dilaksanakan bagi
mengurangkan perbelanjaan operasi.
Pelbagai langkah lain turut dilaksanakan
REVIEW
OF OPERATIONS
programmes. New innovative
approaches were adopted in our effort
to build our brand and reinforce our
relationship with our customers in
line with our philosophy “Singer Is
Your Friend For Life”.
Our continuous efforts in improving
the company’s business in order
to attain optimum operational
efficiency marked another milestone
when a fully-integrated computer
system linking all Singer shops to the
head office was successfully
implemented in July 1998. For our
concerted effort, we were awarded
the Best IT Organisation
Award for 1998 by
Persatuan Industri
Komputer Malaysia
(PIKOM).
Anticipating the evolvement of a
more challenging market place where
competitiveness is the key to
corporate success, we took the
opportunity during the economic
slowdown to hold training and
workshop sessions for all levels of
employees to enhance their business
and administrative skills. To create
awareness in the provision of friendly
and warm services to customers, we
launched a courtesy campaign,
“Service With A Smile” involving the
entire organisation including our
sales agents.
Aided by the renewed confidence of
economic
recovery
and
the
government’s call to start spending in
order to kickstart consumer activities
bagi meningkatkan kecekapan dan
tahap produktiviti demi mengekalkan
kelebihan daya saing kami dalam
pasaran.
Kami telah melipatgandakan sokongan
bagi bahagian penjualan kami
dengan memperhebatkan lagi program
pengiklanan dan promosi jualan. Kami
turut mengambil pendekatan baru yang
berinovatif dalam usaha membangunkan
jenama kami dan memperkukuhkan
hubungan dengan para pelanggan
sejajar dengan falsafah “Singer Rakan
Anda Sepanjang Masa”.
A dining set
from Singer.
Satu detik bersejarah telah
dicatatkan dengan pelaksanaan
sistem komputer bersepadu
sepenuhnya yang
menghubungkan semua
kedai Singer dengan ibu
pejabat pada Julai 1998
hasil usaha gigih bagi meningkatkan
tahap perniagaan kumpulan ke arah
mencapai kecekapan optimum operasi.
Kami telah berjaya memperolehi
Anugerah Organisasi Terbaik IT bagi
tahun 1998 daripada Persatuan Industri
Komputer Malaysia (PIKOM) atas usaha
padu kami ini.
Berdasarkan jangkaan kami tentang
perkembangan pasaran yang lebih
mencabar di mana persaingan merupakan
kunci kepada kejayaan korporat, kami
memanfaatkan kegawatan ekonomi
dengan menganjurkan sesi latihan dan
bengkel untuk para pekerja dari semua
peringkat bagi meningkatkan kemahiran
perniagaan dan pentadbiran mereka.
Bagi memupuk kesedaran tentang
keperluan menyediakan perkhidmatan
mesra kepada para pelanggan, kami telah
melancarkan satu kempen ramah mesra
Singer’s range of
electrical products.
43
REVIEW
OF OPERATIONS
Tinjauan Operasi
to stimulate the overall country’s
economy, the outlook for electrical
and furniture demand appears
encouraging. As a market leader in
the credit instalment sales business,
Singer will continue to forge ahead
and take strategic measures to build
on our strength in moving into the
new millennium.
DOREMI Aroma baby care products.
UNZA GROUP OF COMPANIES
Despite the difficult business
conditions brought about by the
financial crisis, the group was able to
achieve a token growth of 0.5% in
sales. This included the negative
impact of a significant reversal of sales
in the Singapore market, which was
brought about by a change in the
method of accounting for sales.
Similarly, profit before tax of
RM11.11 million achieved were lower
than the previous year due mainly to
the financial crisis and also the
reversal of sales in Singapore.
Allowing for these two factors, the
group’s underlying profit before tax
declined by 18.3%, which contrasts
with the apparent 60% decline
recorded in the actual accounts.
Despite operating under very difficult
conditions, our Malaysian operations
achieved a turnover of RM129
million, a decrease of only 1.3%
compared to the previous year’s
turnover of RM130.7 million. While
domestic sales contracted by 3%
during the year, exports
increased by 6%. Profit
before tax however fell by
10% due to higher cost of
goods arising from the
weakened Ringgit and keen
competition resulting in
higher promotional expenses
incurred during the year.
Austerity measures initiated
during the year however enabled the
company to reduce overhead expenses
by 7% compared to the previous year.
44
We maintained an aggressive
marketing programme via promotions
in all outlets throughout the year and
“Perkhidmatan Disertai Senyuman” yang
melibatkan seluruh organisasi termasuk
wakil-wakil jualan kami.
Melalui keyakinan pemulihan ekonomi
dan seruan Kerajaan agar mula berbelanja
bagi mendorong aktiviti pengguna untuk
merangsang ekonomi negara secara
keseluruhan, prospek bagi permintaan
barangan elektrik dan perabot kelihatan
cerah. Sebagai peneraju pasaran dalam
perniagaan jualan ansuran kredit, Singer
akan terus mara ke hadapan di samping
melaksanakan pelbagai langkah strategik
bagi memantapkan lagi kekuatan kami
dalam melangkah ke alaf baru.
KUMPULAN SYARIKAT UNZA
Meskipun menghadapi keadaan perniagaan
yang sukar akibat krisis kewangan,
kumpulan mampu mencatatkan sedikit
pertumbuhan jualan sebanyak 0.5%. Ini
termasuk kesan negatif daripada
penyongsangan jualan yang ketara di
pasaran Singapura yang disebabkan oleh
perubahan dalam kaedah perakaunan
bagi penjualan. Keuntungan sebelum
cukai sebanyak RM11.11 juta yang
dicatatkan adalah lebih rendah berbanding
tahun sebelumnya akibat krisis kewangan
dan juga penyongsangan jualan di
Singapura. Berdasarkan dua faktor ini,
keuntungan sebelum cukai kumpulan
susut 18.3% yang jelas berbeza dengan
penyusutan 60% yang dicatatkan dalam
akaun sebenar.
Walaupun mengendalikan operasi dalam
keadaan perniagaan yang begitu sukar,
operasi kami di Malaysia mencatatkan
perolehan sebanyak RM129 juta,
turun 1.3% sahaja berbanding
perolehan sebanyak RM130.7
juta yang dicatatkan sebelum ini.
Penjualan domestik menguncup
3% dalam tahun kajian manakala
eksport naik 6%. Bagaimanapun,
keuntungan sebelum cukai jatuh
10% berikutan kos barangan
yang lebih tinggi akibat kejatuhan
nilai Ringgit dan persaingan hebat yang
membawa kepada perbelanjaan promosi
yang lebih tinggi pada tahun di bawah
kajian. Langkah-langkah berhemat yang
mula dilaksanakan pada tahun kajian
walau bagaimanapun berjaya membantu
kumpulan mengurangkan perbelanjaan
REVIEW
OF OPERATIONS
Tinjauan Operasi
launched two new brands. DOREMI
aroma baby care, a unique range of
baby toiletry product contains
carefully selected natural essential oils
to soothe, calm and relax the baby and
mother was launched in July 1998.
ENTRE NOUS women’s fragrance
was introduced in February 1999 in
two eau de toilette variants, Spring
Debut and Summer Passion. Both
perfumes have been specially created
to denote “The Very Essence of
Passion” and packaged in custom
designed acid-etched glass bottles
with snap-on satin silver finish base
and cap. Additional new products
were introduced for ROMANO,
CHAGALE and COUNTERAGE.
These included a new talc and
deodorant variant for ROMANO,
body firming creme for
COUNTERAGE and new shades for
CHAGALE.
Two key brands were relaunched.
ENCHANTEUR was given a facelift
with more attractive label designs and
improved packaging and the SAFI
brand was given a contemporary and
impactful design.
On the international front, the
Berjaya Unza Holdings Group
recorded a turnover of RM98.18
million, an increase of 5.3% over the
previous year. Growth was lower due
to the impact of the financial crisis
particularly in more developed
markets like Singapore and Hong
Kong whereas in China and Vietnam,
consumer demand was sustained
albeit with sharp reductions in market
growth rates.
Two significant new line extensions
were launched during the year VIGOR Bright, a concentrated
detergent with a high performance
formula which restores colour and
brightness to clothes was launched in
Hong Kong and the EVERSOFT
White skin lightening care range was
introduced to the China market.
ENCHANTEUR and EVERSOFT
overhed sebanyak 7% berbanding tahun
sebelumnya.
Kami terus menjalankan program
pemasaran yang giat dengan mengadakan
promosi di kesemua cawangan kami
sepanjang tahun di samping melancarkan
dua jenama baru. Rangkaian wangian
penjagaan bayi yang unik DOREMI
mengandungi minyak asas semula jadi
yang dipilih dengan teliti untuk keselesaan
bayi dan ibu telah dilancarkan pada Julai
1998. Pada Februari 1999, dua jenis
pewangi wanita ENTRE NOUS telah
diperkenalkan iaitu “Spring Debut” dan
“Summer Passion”. Kedua-dua pewangi
ini dicipta khas untuk menggambarkan
“Keghairahan Sempurna” dan boleh
didapati dalam botol kaca berukir
dengan tapak dan penutup bersadur
satin perak yang disertakan penyentap.
Rangkaian jenama ROMANO, CHAGALE
dan COUNTERAGE turut memperkenalkan
produk tambahan. Ini termasuk bedak
dan deodoran baru ROMANO, krim
menegangkan badan COUNTERAGE dan
warna-warna baru CHAGALE.
Pelancaran semula dua jenama terbesar
Kumpulan turut dijalankan. ENCHANTEUR
berwajah baru dengan label yang lebih
menarik dan pakej yang lebih sempurna.
Sementara itu, reka bentuk baru
barangan SAFI adalah lebih moden dan
menarik.
Bagi pasaran luar negara, Kumpulan
Berjaya Unza Holdings telah mencatatkan
perolehan sebanyak RM98.18 juta,
peningkatan 5.3% berbanding tahun
sebelumnya. Pertumbuhan adalah lebih
rendah berikutan kesan krisis kewangan
khasnya di pasaran-pasaran maju seperti
Singapura dan Hong Kong manakala di
China
dan
Vietnam,
permintaan
pengguna adalah mapan sekalipun kadar
pertumbuhan pasaran jatuh mendadak.
Dua barangan baru telah dilancarkan
dalam tahun kajian - VIGOR Bright,
serbuk pencuci dengan formula unggul
yang mengembalikan warna dan
mengelakkan kepudaran pakaian telah
dilancarkan di Hong Kong manakala
rangkaian penjagaan kulit EVERSOFT
‘White skin lightening’ telah diperkenalkan
di pasaran China. ENCHANTEUR dan
DASHING’s range
of products.
45
REVIEW
OF OPERATIONS
Tinjauan Operasi
Unza Vietnam’s factory in
the Vietnam Singapore
Industrial Park, the first
outside Ho Chi Minh City.
First production of
ENCHANTEUR shampoo
rolls off the line.
had registered a slight decline in their
overall performance whilst our
detergent brand in Hong Kong,
VIGOR, recorded excellent growth.
During the year, the group invested
S$2.1 million for a 70% shareholding
in Unza Indochina Pte Ltd in
Singapore. Unza Vietnam Company
Ltd, a wholly-owned subsidiary of
Unza Indochina Pte Ltd, commenced
operations in Vietnam on 1 May
1999. We have also commenced the
process of integrating our Hong Kong
and China operations under a single
management team in order to obtain
operational synergies. Unza Indochina
is managing our business across IndoChina and to date progress has been
most encouraging.
46
ENCHANTEUR’s
range of products.
EVERSOFT mencatatkan sedikit
kemerosotan dalam prestasi keseluruhan
manakala serbuk pencuci jenama kami di
Hong Kong, VIGOR mencatatkan
pertumbuhan unggul.
Dalam tahun di bawah kajian, kumpulan
telah melabur sebanyak S$2.1 juta untuk
pegangan saham 70% dalam Unza
Indochina Pte Ltd di Singapura. Unza
Vietnam Company Ltd, anak syarikat
milik penuh Unza Indochina Pte Ltd mula
menjalankan operasinya pada 1 Mei
1999. Kami juga mula mengendalikan
proses penggabungan operasi kami di
Hong Kong dan China di bawah satu
kumpulan pengurusan bagi menyerapkan
sinergi ke dalam operasi kami. Unza
Indochina sedang mengendalikan operasi
perniagaan kami di Indochina dan
setakat ini perkembangannya
adalah menggalakkan.
The economic environment
has improved substantially in
recent months and this has
provided the opportunity for
the group to compete in the
market place with renewed
vigour. We believe we have
seen the worst of the
economic crisis and that market
conditions and consumer spending
will steadily increase from hereon.
With Unza Indochina coming on
stream, we expect our sales to
continue growing for the financial
year ending 30 April 2000.
Persekitaran ekonomi mula
menampakkan
peningkatan
yang ketara sejak kebelakangan
ini dan ini memberi peluang
kepada
kumpulan
untuk
bersaing dalam pasaran dengan
semangat baru. Kami percaya
krisis ekonomi yang paling buruk
sudahpun berlalu dan selepas ini
keadaan pasaran serta perbelanjaan
pengguna akan mula memperlihatkan
peningkatan.
Dengan
bermulanya
operasi Unza Indochina, penjualan kami
dijangka terus meningkat bagi tahun
kewangan berakhir 30 April 2000.
During the year under review, Berjaya
HVN Sdn Bhd’s turnover contracted
by 26% as compared to the previous
year. The lower turnover was mainly
Dalam tahun di bawah kajian, perolehan
Berjaya HVN Sdn Bhd menguncup 26%
berbanding
tahun
sebelumnya.
Perolehan yang lebih rendah ini adalah
REVIEW
OF OPERATIONS
due to the discontinuation of the
China Star entertainment (Hong
Kong Chinese drama serial)
programme, rampant video CD piracy
and the overall weaker consumer
spending. A weaker Ringgit had
translated to higher product and
operating costs for the distribution
business.
berikutan tamatnya program hiburan
China Star (siri drama Cina Hong Kong),
video CD yang dicetak rompak dengan
berleluasa
dan
kemerosotan
perbelanjaan
pengguna
secara
keseluruhannya. Kejatuhan nilai Ringgit
telah membawa kepada kos produk dan
operasi yang lebih tinggi bagi
perniagaan pengedaran.
On the overall development of the
video industry, positive measures were
undertaken by the Malaysian
government and the entertainment
industry. In order to ensure the
successful implementation of the
Multimedia Super Corridor (“MSC”),
the government has identified curbing
piracy as the top priority. An AntiPiracy Task Force comprising
enforcement personnel from the
Ministry of Trade and Industry,
FINAS, the Censorship Board, The
Police Force, Customs Department
and Dewan Bandaraya Kuala Lumpur
was formed. The objective of this body
is to serve as a one-stop centre to
control piracy. On the industry front, a
group of video distributors and
retailers, film exhibitors and
distributors, broadcasters and VCD
manufacturers worked together to
form VIFIM (Video and Film
Industries Malaysia). The objective of
VIFIM is to lobby support from the
government and to work hand in hand
with the Motion Picture Association
Meninjau pembangunan industri video
secara keseluruhannya, pelbagai langkah
positif telah dilaksanakan oleh Kerajaan
Malaysia dan industri hiburan. Bagi
memastikan kejayaan pelaksanaan
Koridor Raya Multimedia (“MSC”),
kerajaan
berusaha
membendung
kegiatan cetak rompak. Pasukan Petugas
Anti Cetak Rompak yang terdiri daripada
penguatkuasa Kementerian Perdagangan
dan Industri, FINAS, Lembaga Penapisan,
Pasukan Polis, Jabatan Kastam dan
Dewan Bandaraya Kuala Lumpur telah
ditubuhkan.
Matlamatnya
adalah
bertindak sebagai badan utama dalam
membendung kegiatan cetak rompak.
Di peringkat industri, sekumpulan
pengedar dan penjual video, mereka
yang terbabit dalam penayangan dan
pengedaran filem, penyiar dan pengeluar
VCD berganding bahu menubuhkan
VIFIM (Industri Video dan Filem
Malaysia). Matlamat VIFIM adalah
mendapatkan sokongan kerajaan dan
bekerjasama dengan Motion Picture
Association of America (MPA) dan
Pasukan Petugas Anti Cetak Rompak
bagi mengatasi masalah cetak rompak.
Ini adalah perkembangan positif ke arah
Latest releases
from Berjaya HVN.
A Berjaya Video outlet.
47
REVIEW
OF OPERATIONS
Tinjauan Operasi
A Catalog
Shop outlet.
Promotional leaflets
from The Catalog Shop.
of America (MPA) and the AntiPiracy Task Force to overcome piracy
problems. We view these as
encouraging developments towards
establishing a more regulated video
and film market in Malaysia.
On the retailing front, we have
rationalized our retail operations
where more focus will be placed on
the sale of video CDs as opposed to
audio products. Piracy of audio
products in the MPEG3 formats
continued to affect the sales of
original music CD. After a year of
rationalization, the retail operation is
now poised to face more challenges in
the new millennium.
On the distribution front, Berjaya
HVN continues to pursue new video
distribution business in order to
maintain its position as the largest
distributor of English Language
videos in Malaysia. The company has
recently been appointed by Lyrick
Studio as the exclusive video
distributor for the popular children’s
educational programme “Barney
Home Video” for both Malaysia and
Singapore.
Barring unforeseen circumstances,
with the corrective steps taken by the
management through rationalisation
of our retail operations and pursuing
new distribution business and the
improving economy, we expect better
results for the financial year 1999/2000.
48
pembentukan pasaran video dan filem
yang terkawal di Malaysia.
Dari segi jualan runcit, kami telah
menyusun semula operasi jualan runcit
kami dengan menumpukan perhatian
terhadap penjualan video CD berbanding
barangan audio. Kegiatan mencetak
rompak barangan audio dalam format
MPEG3 terus menjejaskan penjualan CD
muzik yang original. Selepas setahun
penyusunan semula ini dilaksanakan,
operasi jualan runcit kini bersiap sedia
untuk menghadapi cabaran yang lebih
hebat menjelang alaf baru.
Dari segi pengedaran pula, Berjaya
HVN terus menjalankan perniagaan
pengedaran
video
baru
demi
mengekalkan kedudukannya sebagai
pengedar terbesar video dalam Bahasa
Inggeris di Malaysia. Baru-baru ini, Lyrick
Studio telah melantik syarikat sebagai
pengedar eksklusif video program
pendidikan kanak-kanak yang digemari
ramai, “Barney Home Video” untuk
pasaran Malaysia dan Singapura.
Melainkan berlaku perkara yang tidak
dijangka di samping pelaksanaan langkahlangkah sewajarnya oleh pihak
pengurusan melalui penyusunan semula
operasi jualan runcit dan pengendalian
perniagaan pengedaran baru serta
pemulihan ekonomi, tahun kewangan
1999/2000 dijangka mempamerkan
keputusan yang lebih memberangsangkan.
The Catalog Shop meneruskan peranannya
sebagai syarikat runcit berkualiti yang
mengeluarkan barangan elektrik dan
REVIEW
OF OPERATIONS
The Catalog Shop continues its role
in complementing Singer Malaysia’s
operations as a quality retailer in
multi-branded electrical products and
home furniture. Despite the economic
downturn, the company performed
satisfactorily in achieving a turnover
growth of 9% over the previous year.
The commendable result has ranked
the company among the top five
electrical retailer chains in the
country.
Part of our strategy during the year
were to open satellite stores instead
of megastores. In line with this
strategy, we added four
satellite stores in Ampang,
Sungei Way, Kota Bharu
and Seremban in the first
quarter of 1999 bringing
our outlets nearer to our
target customers. Results
shown by these new satellite stores
were extremely positive and boosted
by these performances, we plan to
embark on our next phase of
development in opening another ten
satellite stores during the current
financial year. With these additional
stores, we will have 23 outlets
spanning across major towns
throughout the country.
In the coming year, our services will
continue to come in the form of
sourcing suitable products and
brands at better prices that caters to
the needs of our customers. To
upgrade our position in the market
place, we will intensify our marketing
initiatives and promotional activities
and revamping merchandise mix. We
will also continue to place emphasis
on staff training and development
programmes to enhance our
competitive edge.
Berjaya Coffee Company (M) Sdn
Bhd, a wholly-owned subsidiary of
the Group was established in May
1998 and granted the licence for the
exclusive rights to develop and
operate Starbucks retail stores in
perabot rumah pelbagai jenama yang
menyokong operasi Singer Malaysia.
Meskipun
menempuhi
kegawatan
ekonomi, syarikat memperlihatkan prestasi
yang memuaskan dengan mencatatkan
peningkatan 9% dalam perolehan
berbanding tahun sebelumnya. Keputusan
yang menggalakkan tersebut turut
menyenaraikan syarikat dalam lingkungan
lima rangkaian pengendali jualan runcit
barangan elektrik terkemuka di negara ini.
Sebahagian daripada strategi kami dalam
tahun kajian adalah membuka gedung
kecil selain gedung besar yang sedia
ada. Sejajar dengan strategi ini, kami
menambah empat lagi gedung kecil di
Ampang, Sungei Way, Kota
Bharu dan Seremban pada
suku pertama tahun 1999
iaitu berdekatan dengan
pelanggan sasaran kami.
Gedung-gedung baru ini telah
mempamerkan keputusan yang
amat positif dan berdasarkan prestasi ini,
kami bercadang untuk memulakan fasa
pembangunan
seterusnya
dengan
membuka
sepuluh
lagi
gedung
sedemikian dalam tahun kewangan
semasa. Dengan adanya gedung-gedung
tambahan ini, cawangan kami di bandarbandar utama di seluruh negara kini
berjumlah 23 kesemuanya.
Dalam tahun akan datang, perkhidmatan
kami akan terus dikendalikan dengan
menitikberatkan pengeluaran produk dan
jenama yang sesuai pada harga
berpatutan bagi memenuhi keperluan
para
pelanggan.
Kami
akan
melipatgandakan lagi aktiviti pemasaran
dan promosi kami serta mengubahsuai
rangkaian barangan dagangan kami bagi
meningkatkan kedudukan kami dalam
pasaran. Kami juga akan terus
menumpukan
perhatian
terhadap
program latihan dan pembangunan
kakitangan bagi menambahkan kelebihan
daya saing kami.
Berjaya Coffee Company (M) Sdn Bhd,
anak syarikat milik penuh Kumpulan
telah ditubuhkan pada Mei 1998 dan
berjaya memperolehi lesen untuk
hak
eksklusif
menubuhkan
dan
mengendalikan cawangan Starbucks di
49
REVIEW
OF OPERATIONS
A Kenny Rogers Roasters
restaurant in Bangsar,
Kuala Lumpur.
Starbucks Coffee
outlet at KL Plaza.
Malaysia. The company opened its
first Starbucks retail location in
Malaysia on 17 December 1998 at the
KL Plaza, Kuala Lumpur followed by
the second on 8 May 1999 at Jalan
Telawi 3 in Bangsar, Kuala Lumpur.
The company plans to open
another 8 stores mainly in the
Klang Valley by April 2000.
Malaysia. Syarikat membuka cawangan
Starbucks yang pertama di Malaysia
pada 17 Disember 1998 di KL Plaza,
Kuala Lumpur diikuti dengan pembukaan
cawangan kedua pada 8 Mei 1999 di
Jalan Telawi 3 di Bangsar, Kuala Lumpur.
Syarikat merancang untuk membuka
8 lagi cawangan terutamanya di
Lembah Klang menjelang April
2000.
The Starbucks stores offer a
complete menu of internationally
acclaimed coffee beverages, a selection
of more than 20 varieties and blends
of the finest arabica coffee beans;
freshly baked local pastries and
desserts; and a wide selection of coffee
brewing equipment and accessories.
Restoran Starbucks menawarkan
menu minuman kopi lengkap yang
menjadi kegemaran ramai di seluruh
dunia dengan lebih 20 pilihan dan
campuran biji kopi ‘arabica’ terbaik;
pastri yang dibakar segar dan hidangan
pencuci mulut serta pelbagai pilihan
peralatan dan aksesori membuat kopi.
The principal company, Starbucks
Coffee Company which is listed on
NASDAQ, USA is the leading
retailer, roaster and brand of specialty
coffee in North America. Starbucks
Coffee International has over 2,500
retail locations worldwide including
Japan, Hawaii, Singapore, the
Philippines, Taiwan, Thailand, the
United Kingdom, New Zealand,
South Korea and China. Malaysia
represents its ninth Pacific Rim
market.
Berjaya Roasters (M) Sdn Bhd, the
franchise holder for Kenny Rogers
Roasters restaurant in Malaysia has to
date opened a total of 21 outlets
spanning across major towns in the
country. Its 21st outlet opened in July
1998 in Berjaya Megamall Kuantan,
50
™
Syarikat utama kami, Starbucks Coffee
Company yang tersenarai di NASDAQ,
Amerika Syarikat merupakan syarikat
jualan runcit terunggul dan jenama kopi
istimewa di Amerika Utara. Starbucks
Coffee International mempunyai lebih
2,500 cawangan runcit di serata dunia
termasuk Jepun, Hawaii, Singapura,
Filipina, Taiwan, Thailand, United
Kingdom, New Zealand, Korea Selatan
dan China. Malaysia merupakan pasaran
kesembilan Pacific Rim.
Berjaya Roasters (M) Sdn Bhd yang
memegang francais bagi restoran Kenny
Rogers Roasters di Malaysia sehingga
kini telah membuka sebanyak 21
cawangan di bandar-bandar utama
seluruh negara. Cawangannya yang ke-21
telah dibuka pada Julai 1998 di Berjaya
Megamall Kuantan dan merupakan
restoran Kenny Rogers Roasters pertama
REVIEW
OF OPERATIONS
is the first Kenny Rogers Roasters
outlet in the East Coast. To further
create customers’ awareness and
increase its market share, the company
has introduced several new products
on the menu to suit local taste. These
include Fresh Fruits with Ice-Cream
as dessert, Steamed Vegetables as a
hot side dish, Flamin’ Wings
- a spicy roasted chicken
wings, Golden Vanilla
muffin - a localised
muffin and Chicken
Spaghetti with a special
spicy sauce. In line with its
tagline, “Less salt, less fat, less
calories”, the company will continue
to promote its roasted rotisserie
chicken as a distinctive healthy
alternative to fried chicken and other
quick-service
restaurants.
The
company plans to open another five
outlets by the Year 2000.
Roasters Asia Pacific (HK) Limited, a
wholly-owned subsidiary of the
Group, holds the master franchise
rights for Kenny Rogers Roasters in
the Asia-Pacific region. Currently
there are 56 outlets operating in
Malaysia, the Philippines, Singapore,
China and Indonesia through
franchised and company-owned
operations.
Another subsidiary of the Group,
Roadhouse Grill, Inc, is the owner,
operator and franchisor of a chain of
full service restaurants under the
trademark name of “Roadhouse
Grill”. It is one of the largest
operators of the roadhouse-style
casual dining restaurant concept in
the USA. As at April 1999, there
were 56 company-owned, three
franchised
and
one
licensed
Roadhouse Grill restaurants located
in Alabama, Arkansas, Florida,
Georgia, Louisiana, Mississippi,
Nevada, New York, Ohio, South
Carolina and Tennessee. Of the 56
company-owned restaurants, 31 are
located in Florida and one of its three
di Pantai Timur. Bagi memupuk
kesedaran pelanggan serta meningkatkan
penguasaan pasaran, syarikat telah
memperkenalkan beberapa menu baru,
sesuai dengan selera tempatan. Ini
termasuk ‘Fresh Fruits with Ice-Cream’
sebagai pencuci mulut, ‘Steamed
Vegetables’ sebagai hidangan panas
sampingan, ‘Flamin’ Wings’ - kepak
ayam dipanggang pedas, ‘Golden
Vanilla muffin’ - mufin mengikut
selera tempatan dan ‘Chicken
Spaghetti’ dengan sos
pedas istimewa. Sejajar
dengan
slogannya,
“Kurang garam, kurang
lemak, kurang kalori”, syarikat akan
terus mempromosikan ayam panggang
‘rotisserie’ sebagai pilihan makanan yang
sihat dan istimewa selain ayam goreng
dan restoran-restoran makanan segera
lain. Syarikat bercadang untuk membuka
lima lagi restoran menjelang Tahun 2000.
Roasters Asia Pacific (HK) Limited adalah
anak syarikat milik penuh Kumpulan
yang memegang hak induk francais bagi
Kenny Rogers Roasters di rantau Asia
Pasifik. Buat masa ini, syarikat memiliki
56 cawangan yang beroperasi di
Malaysia, Filipina, Singapura, China dan
Indonesia
melalui
operasi-operasi
francais dan operasi milik syarikat.
The interior view of a Roadhouse Grill
restaurant is designed to appeal to a
broad range of customers.
Satu lagi anak syarikat Kumpulan,
Roadhouse
Grill,
Inc ,
memiliki,
mengendali dan memegang francais
rangkaian perkhidmatan restoran yang
menyeluruh dengan menggunakan nama
“Roadhouse Grill”. Ianya merupakan
salah sebuah pengendali terbesar
restoran yang berkonsepkan kedai
makan kasual di Amerika Syarikat. Pada
April 1999, terdapat 56 buah restoran
Roadhouse Grill milik syarikat, tiga buah
dikendalikan secara francais dan sebuah
restoran berlesen di Alabama, Arkansas,
Florida, Georgia, Louisiana, Mississippi,
Nevada, New York, Ohio, South Carolina
dan Tennessee. Daripada 56 buah
restoran yang dimiliki oleh syarikat, 31
daripadanya terletak di Florida dan salah
satu daripada tiga restoran francaisnya
adalah terletak di Kuala Lumpur,
Malaysia, dan dikendalikan melalui
51
REVIEW
OF OPERATIONS
A CarLovers car
wash outlet in
Australia.
franchised restaurants is located in
Kuala Lumpur, Malaysia, operated
through Berjaya Roadhouse Grill
Sdn Bhd. The other two franchised
restaurants are located in Las Vegas,
Nevada in the USA.
Roadhouse Grill restaurants offer a
diverse, moderately priced lunch and
dinner menu highlighting exhibition
cooking of steaks and other grilled
entries. The restaurant feature daily
fresh baked yeast rolls, appetizers and
homemade ice cream, as signature
items. The Roadhouse Grill concept
is family oriented and is designed to
appeal to a broad range of customers
including singles, couples, families
and senior citizens. Guest satisfaction
comes from a pleasant restaurant
atmosphere and is served with highquality food and beverage by friendly
and efficient employees.
The company’s expansion strategy
through financial year 2000 is to
increase its presence in markets where
Roadhouse Grill restaurants now
exist. Their expansion plan includes
opening another 20 company-owned
restaurants in Atlanta, Georgia, Ohio,
North and South Carolina and
Upstate New York in the coming year.
CarLovers Carwash Limited, a
subsidiary listed on the Australian
Stock Exchange is the world’s largest
and fastest growing chain of selfserve and automatic carwashes and
runs a total of 93 sites in Australia
where 62 are company-owned and 31
are franchised. The CarLovers
Carwash concept uses innovative
systems that are changing the way
52
Berjaya Roadhouse Grill Sdn Bhd. Dua
lagi restoran francais terletak di Las
Vegas, Nevada di Amerika Syarikat.
Restoran Roadhouse Grill menawarkan
pelbagai menu hidangan tengah hari dan
makan malam dengan harga berpatutan
dan para pengunjung dapat melihat
demonstrasi memasak daging stik dan
makanan lain yang turut dipanggang.
Restoran ini menyediakan roti yis yang
dibakar segar, pembuka selera dan ais
krim yang dibuat sendiri sebagai
hidangan
istimewanya.
Konsep
Roadhouse Grill adalah hidangan untuk
keluarga bagi memenuhi selera ramai
pelanggan sama ada golongan bujang,
pasangan, keluarga dan warga tua. Para
pengunjung berasa puas hati apabila
mengunjungi restoran yang menawarkan
suasana menyenangkan dan menikmati
makanan dan minuman enak yang
disediakan oleh kakitangan yang mesra
dan cekap.
Strategi syarikat dalam memperluaskan
aktivitinya pada tahun kewangan 2000
adalah memperkembangkan pasaran
restoran Roadhouse Grill. Rancangan
perluasan ini termasuk membuka 20 lagi
restoran milik syarikat di Atlanta,
Georgia, Ohio, North dan South Carolina
serta bahagian utara New York pada
tahun akan datang.
CarLovers Carwash Limited, anak syarikat
yang tersenarai di Bursa Saham Australia
adalah syarikat terbesar dan paling maju
yang menawarkan perkhidmatan cucian
kereta automatik dan layan diri. Ianya
memiliki 93 cawangan di Australia di
mana 62 daripadanya adalah milik
syarikat dan 31 lagi difrancaiskan.
Konsep CarLovers Carwash adalah
berdasarkan sistem inovatif, mengubah
cara orang ramai mencuci kereta mereka
REVIEW
OF OPERATIONS
people wash their cars and
incorporates
technologically
advanced equipment that uses
environmentally friendly detergents
and energy efficient lighting.
dan menggabungkan peralatan teknologi
terkini yang menggunakan sabun pencuci
yang tiada kesan negatif kepada alam
sekitar dan lampu yang menjimatkan
bekalan tenaga.
CarLovers International Limited
holds the global master franchise for
CarLovers carwash concept except
Australia. On-going research at
existing CarLovers Carwash sites
in Australia has provided the
franchisees with high qualit y
information
on
ser vices,
communication mix, frequency of use
and the characteristics of the users.
These results provide invaluable
background to plan and support all
our marketing programs and
expansion plans to enable us to
expand our carwash operations into
Asia.
CarLovers International Limited memiliki
francais induk di peringkat global untuk
konsep cucian kereta CarLovers kecuali
di Australia. Langkah kami menjalankan
penyelidikan di tapak-tapak CarLovers
Carwash sedia ada di Australia telah
membuahkan hasil dengan memperolehi
maklumat
penting
mengenai
perkhidmatan, kepelbagaian komunikasi,
kekerapan penggunaan dan perwatakan
pengguna. Hasil penyelidikan ini
bertindak sebagai asas dalam merancang
dan memperhebatkan lagi semua
program pemasaran dan rancangan kami
untuk memperluaskan operasi cucian
kereta di rantau Asia.
Berjaya CarLovers (M) Sdn Bhd holds
the master franchise for CarLovers’
self-serve and automatic carwash in
Malaysia. Besides operating an outlet
which is located in Jalan Genting
Klang, Kuala Lumpur, the company
also distributes CarLovers Car Care
products and Medo air fresheners
from the USA. Plans are in the
pipeline to set up franchise outlets in
the Klang Valley and Penang by the
end of 1999.
Internationally, the sale of CarLovers
car care products through Cosway
(M) Sdn Bhd continues to grow and
are now being sold in Malaysia,
Indonesia, the Philippines, Thailand
and Brazil.
Another subsidiary, Video Ezy
Australasia Pty Ltd, is involved in
the franchise business of renting and
leasing video and computer games in
Australia and New Zealand. Video
Ezy has continued to dominate and
expand and during the year under
review, the company has opened
another 60 new stores making a total
of 550 stores in Australia and New
Zealand. Video Ezy has established
Berjaya CarLovers (M) Sdn Bhd
memegang francais induk bagi cucian
kereta automatik dan layan diri CarLovers
di Malaysia. Selain mengendalikan
cawangan yang terletak di Jalan Genting
Klang, Kuala Lumpur, syarikat juga turut
mengedarkan barangan penjagaan kereta
‘CarLovers Car Care’ dan penyegar udara
Medo dari Amerika Syarikat. Perancangan
juga sedang dibuat untuk menubuhkan
lebih banyak lagi cawangan francais di
Lembah Klang dan Pulau Pinang sebelum
akhir tahun 1999.
An interior view of a
Video Ezy outlet.
Di peringkat antarabangsa, penjualan
barangan penjagaan kereta CarLovers
melalui Cosway (M) Sdn Bhd terus
mencatatkan peningkatan dan kini
sedang dijual di Malaysia, Indonesia,
Filipina, Thailand dan Brazil.
Satu lagi anak syarikat, Video Ezy
Australasia Pty Ltd, terlibat dalam
perniagaan francais yang merangkumi
penyewaan permainan video dan
komputer di Australia dan New Zealand.
Video Ezy terus menguasai dan
memperluaskan aktivitinya dan dalam
tahun di bawah kajian, syarikat telah
membuka 60 cawangan baru. Dengan ini
bilangan cawangan syarikat di Australia
dan New Zealand berjumlah 550
kesemuanya. Video Ezy telah
53
REVIEW
OF OPERATIONS
A Video Ezy outlet in Australia.
itself as the most innovative video
retail chain in the world and remains
the largest and most successful video
chain operator in these countries.
Video Ezy International Ltd holds
the master franchise for Video Ezy’s
concept worldwide except for
Australia and New Zealand. The
company has so far secured
franchisees in Malaysia and Thailand.
54
memantapkan kedudukannya sebagai
rangkaian video paling berinovatif di
dunia dan kekal sebagai pengendali
rangkaian video terbesar dan paling
berjaya di negara-negara ini.
Video Ezy International Ltd memegang
francais induk bagi konsep Video Ezy di
peringkat antarabangsa kecuali di
Australia dan New Zealand. Setakat ini,
syarikat telah menjalankan operasi
francais di Malaysia dan Thailand.
Through Video Ezy (M) Sdn Bhd,
our Malaysian operations continued
to grow with the opening of its 12th
store in Taipan Triangle Subang Jaya
in May 1999. The new store caters to
the surrounding residents by offering
them fantastic value-for-money
products in a brightly lit and
comfor table environment. Its
innovative concept of no deposit
membership continues to frustrate
the competition and attract the video
viewing audience to its extensive
library of more than 15,000 movies
in any one rental store. With the
comprehensive crackdown on the
pirates VCD market and the
imminent passing of the Optical
Discs Manufacturing Control Bill by
the Government, the video and VCD
rental market looks set for a renewed
upward growth trend.
Melalui Video Ezy (M) Sdn Bhd, operasi
kami di Malaysia terus memperlihatkan
pertumbuhan
dengan
pembukaan
cawangan yang ke-12 di Taipan Triangle,
Subang Jaya pada Mei 1999. Cawangan
baru ini dibuka untuk memenuhi
keperluan penduduk sekitar dengan
menawarkan produk tambah nilai yang
hebat dalam persekitaran yang terang
dan selesa. Berdasarkan konsep inovatif
tanpa perlu membayar deposit untuk
menjadi ahli, syarikat berjaya menyaingi
persaingan dan menarik orang ramai
menyewa video dengan menawarkan
lebih 15,000 pilihan filem di setiap
cawangan kedainya. Dengan tindakan
keras dan menyeluruh terhadap kegiatan
cetak rompak VCD dan Rang Kawalan
Pengeluaran Cakera Optik yang bakal
diluluskan oleh Kerajaan, pasaran sewa
video dan VCD kini bersiap sedia untuk
kembali menikmati pertumbuhan yang
menggalakkan.
Since our opening in Thailand in
March this year, our expansion has
been rapid with more than 70 stores
opened to date. Video Ezy has also
taken over an existing video retail
chain and these stores which have
been converted to the Video Ezy
concept have reported a two-fold
Sejak pembukaan kami di Thailand pada
Mac tahun ini, kami telah mempamerkan
kemajuan yang pesat di mana lebih 70
cawangan telah dibuka sehingga kini.
Video Ezy juga turut mengambilalih
rangkaian penyewaan video sedia ada
dengan memperkenalkan konsep Video
Ezy. Kedai-kedai ini telah mencatatkan
REVIEW
OF OPERATIONS
increase in turnover. Video Ezy’s
long term expansion plans include a
projected 200 to 300 stores in
Thailand.
Plans are in the pipeline to expand
the Video Ezy chain to Fiji, a small
but promising market and the first
store is scheduled to open in
November 1999.
In Mexico, Video Ezy is currently
conducting negotiations with a
company which has a retail network
of over 1,000 stores. If the
negotiations are successful, this could
prove to be a launching pad into the
Brazilian market which, after
Australia, are the second biggest
video watchers in the world.
Other markets being considered for
future expansion include Singapore,
The Philippines and Britain.
Taiga Forest Products Ltd (“Taiga”),
a company listed on the Toronto
Stock Exchange, Canada is the
largest independent Canadian
building products distributor,
specialising in the wholesale
distribution of lumber and panel
products.
peningkatan dalam perolehan
dua kali ganda. Rancangan
jangka panjang Video Ezy
menubuhkan 200 hingga 300
di Thailand.
sebanyak
perluasan
termasuk
cawangan
Rancangan sedang dibuat untuk
memperluaskan rangkaian Video Ezy ke
Fiji, pasaran kecil tetapi mempunyai
masa depan yang cerah. Cawangan
pertama dijangka dibuka pada November
1999.
Di Mexico, Video Ezy kini sedang
mengadakan rundingan dengan sebuah
syarikat yang mempunyai rangkaian yang
meliputi lebih 1,000 cawangan. Sekiranya
rundingan ini berjaya, ianya akan
bertindak sebagai pemangkin dalam
menembusi pasaran Brazil yang
mempunyai bilangan penonton video
kedua terbesar di dunia selepas Australia.
Pasaran-pasaran
lain
yang
turut
dipertimbangkan untuk aktiviti perluasan
pasaran kami termasuklah Singapura,
Filipina dan Britain.
Taiga Forest Products Ltd (“Taiga”),
syarikat yang tersenarai di Bursa Saham
Toronto, Kanada merupakan pengedar
bebas produk binaan terbesar di Kanada
dengan kepakaran dalam pengedaran
produk kayu dan panel yang
dikendalikan secara borong.
Taiga, largest Canadian building product distributor,
specialising in distribution of lumber and panel products.
55
REVIEW
OF OPERATIONS
Taiga Forest
Products Ltd,
Canada.
For the financial year under review,
Taiga has recorded an increase of
17% in sales due to the excellent
economic conditions in North
America and strong levels of demand
for building products in the USA
and Canadian markets. Rising prices
and improved margins for Taiga’s
core lumber and panel products were
also key factors in the year-on-year
improvement in sales and earnings.
Panel
products
performed
particularly well in 1998 and a wellbalanced mix of pressure-treated
wood, engineered wood products and
allied building products also
contributed to the year’s strong
results. Taiga’s strong distribution
network played a major role in its
success and growth. Its strategic
location provides the essential links
between manufacturers with large
volume of products to sell, and
retailers or industrial customers with
smaller, but wider-ranging needs.
Taiga maintains large, balanced
product inventories at 14 distribution
centres located coast-to-coast across
Canada to meet market demand
for “just-in-time” inventory. The
company’s product mix is focused on
the products that represent close to
80% of the building products sales.
The company is also a significant
distributor of lumber and panel
products to USA markets, and
operates two re-load centres to serve
customers in this market.
The outlook for Taiga for 1999/2000
remains positive. The North
American economy continues to be
very strong with low interest rates,
little inflation, and a high level of
consumer confidence. Residential
renovation and repairs spending and
housing starts are expected to
continue to grow. Sales volume of
lumber, panel and allied lines are
expected to remain strong in North
America as Taiga continues to focus
on the distribution of all major lines
from its 14 distribution centres and
two USA oriented re-load centres
56
Bagi tahun kewangan di bawah kajian,
Taiga mencatatkan peningkatan
17% dalam penjualan berikutan
keadaan ekonomi yang begitu
memberangsangkan di Amerika Utara
ditambah dengan permintaan yang amat
menggalakkan untuk produk binaan di
pasaran Amerika Syarikat dan Kanada.
Kenaikan harga dan peningkatan margin
keuntungan bagi produk utama kayu dan
panel edaran Taiga juga merupakan
faktor penting yang mendorong kepada
peningkatan penjualan dan pendapatan
pada tahun kajian. Produk panel
menunjukkan prestasi yang begitu
membanggakan pada tahun 1998 dan
campuran produk seimbang yang
merangkumi produk kayu rawatan
tekanan, produk kayu terekabentuk dan
produk binaan berkaitan juga turut
menyumbang
kepada
keputusan
mantap pada tahun kajian. Rangkaian
pengedaran
Taiga
yang
kukuh
memainkan peranan penting dalam
membantu kejayaan dan pertumbuhannya.
Kedudukannya yang strategik menjadi
asas penting dalam hubungan antara
para pengeluar yang menghasilkan
produk dalam kuantiti yang besar untuk
dijual, dan dengan pengendali runcit
atau pelanggan industri yang mempunyai
keperluan yang lebih kecil tetapi
berbagai-bagai. Taiga memiliki inventori
produk yang besar dan seimbang di 14
buah pusat pengedaran yang terletak di
serata
Kanada
bagi
memenuhi
permintaan inventori “tepat pada
masanya”.
Syarikat
menekankan
inventori produk yang mewakili hampir
80% daripada penjualan produk binaan.
Syarikat juga adalah pengedar penting
produk kayu dan panel untuk pasaran
Amerika Syarikat dan mengendalikan dua
pusat punggahan semula bagi memenuhi
keperluan pelanggan dalam pasaran ini.
Masa depan Taiga terus kelihatan cerah
bagi tahun 1999/2000. Keadaan ekonomi
di Amerika Utara terus mantap dengan
kadar faedah yang rendah, inflasi yang
sedikit dan keyakinan tinggi para
pengguna. Perbelanjaan mengubahsuai
dan membaiki kediaman juga dijangka
terus meningkat. Jumlah penjualan kayu,
panel dan produk berkaitan di Amerika
Utara dijangka terus kukuh seiring
REVIEW
OF OPERATIONS
across the country. With the
expectation of a high level of sales
activity, and our new treating plants
adding greater profit to our bottom
line, we are anticipating another
good year for Taiga.
Gribbles Pathology (M) Sdn Bhd
(“Gribbles Malaysia”), a jointventure between Berjaya Group and
Gribbles Australia is engaged in the
provision of medical pathology
services to doctors and hospitals,
using state-of-the-art instrumentation,
computerisation and testing
procedures. Gribbles Australia
operates the largest private medical
pathology group, handling in excess
of 9,000 patient samples a day with
two main laboratories, 22 regional
laboratories and over 100 licensed
collection centres in three states
namely South Australia, Victoria and
New South Wales.
In 1998, Gribbles Malaysia opened
12 Collection Centres throughout
Malaysia
bringing
the
total
operational sites nationwide to 21
facilities. The company has managed
to secure contracts with Healthcare
Management Groups such as
Medfiche, International Medicare
Group and Lion Best which operate
healthcare card memberships offering
dengan langkah Taiga memusatkan
tumpuan terhadap pengedaran produk
utama daripada 14 buah pusat
pengedaran dan dua pusat punggahan
semula ke seluruh Amerika Syarikat.
Berdasarkan aktiviti penjualan yang
dijangka pesat di samping loji rawatan
baru kami yang menyumbangkan
keuntungan lebih besar, Taiga dijangka
mengulangi pencapaian membanggakan
ini pada tahun akan datang.
Gribbles Pathology (M) Sdn Bhd
(“Gribbles Malaysia”), usahasama di
antara Kumpulan Berjaya dan Gribbles
Australia menawarkan perkhidmatan
patologi perubatan kepada doktor dan
hospital dengan menggunakan peralatan,
sistem komputer dan prosedur ujian
yang
terkini.
Gribbles
Australia
menguruskan
kumpulan
patologi
perubatan swasta terbesar dengan
mengendalikan lebih 9,000 sampel
pesakit sehari. Syarikat memiliki dua
makmal utama, 22 makmal serantau dan
lebih 100 pusat kutipan berlesen di tiga
lokasi iaitu Australia Selatan, Victoria
dan New South Wales.
Pada tahun 1998, Gribbles Malaysia telah
membuka 12 Pusat Kutipan di seluruh
negara. Dengan ini syarikat mempunyai
21 tapak operasi di seluruh negara.
Syarikat berjaya memperolehi kontrak
daripada Kumpulan Pengurusan
Penjagaan Kesihatan seperti Medfiche,
Kumpulan Medicare Antarabangsa dan
Gribbles Pathology provides medical
pathology services to doctors and hospitals.
57
REVIEW
OF OPERATIONS
Gribbles’ laboratory
in Petaling Jaya.
customers free annual General
Health Screening profile. Other
contracts secured include PAP Smear
Screening
from
three
State
Government hospitals namely Pulau
Pinang, Melaka and Sabah and
general health screening from
Matshushita, Texas Instruments,
KLIA and MAS Catering and a host
of other corporate clients.
In February 1999, the company
successfully
took
over
the
management and operations of the
Southern Hospital laboratory in
Melaka adding to the previously
secured contract work at Adventist
Hospital in Pulau Pinang and
Hospital Fatimah in Ipoh. The
company also provides modems and
its proprietory software programme,
“PathDirect” to doctors, which
enables them to electronically access
Gribbles’ database for their patients’
results. This value-added service
helps to speed up the delivery process
for test results and as at April 1999,
about 600 doctor sites were enabled
with PathDirect.
As the economy continues to recover,
the prospects for Gribbles are
assured.
Three
Government
Hospitals contracts for PAP Smear
Screening have again been awarded,
with the prospect of other States
following suit. Other new Healthcare
Management contracts include
Integrated Healthcare Management
Sdn Bhd, Koperasi Serbaguna
Pekerja-Pekerja Malaysia Bhd and
AIA United Healthcare. Two new
Collection Centres opened in July
and August this year, further
augmenting
Gribbles
regional
services throughout Malaysia.
58
Lion Best yang mengendalikan keahlian
kad
penjagaan
kesihatan
yang
menawarkan
profil
Pemeriksaan
Kesihatan Umum secara percuma.
Kontrak-kontrak lain yang berjaya
diperolehi termasuk Pemeriksaan PAP
Smear daripada tiga buah Hospital
Kerajaan di Pulau Pinang, Melaka dan
Sabah serta pemeriksaan kesihatan
umum daripada Matshushita, Texas
Instruments, KLIA dan MAS Catering dan
pelbagai pelanggan korporat lain.
Pada Februari 1999, syarikat telah
berjaya mengambilalih pengurusan dan
operasi makmal Hospital Southern di
Melaka selain kontrak-kontrak kerja
sebelum ini di Hospital Adventist, Pulau
Pinang dan Hospital Fatimah di Ipoh.
Syarikat juga menyediakan modem dan
program perisian komputer, “PathDirect”
untuk membolehkan para doktor
memasuki pangkalan data elektronik
Gribbles untuk mendapatkan keputusan
pesakit mereka. Perkhidmatan tambah
nilai ini membantu mempercepatkan lagi
proses mendapatkan keputusan ujian
dan pada April 1999, PathDirect
mempunyai 600 laman doktor.
Seiring dengan fasa pemulihan ekonomi,
Gribbles
dijangka
memperlihatkan
prestasi yang meyakinkan. Syarikat
berjaya memperolehi tiga kontrak
Pemeriksaan PAP Smear daripada
Hospital Kerajaan dan tawaran-tawaran
dari hospital negeri lain dijangka
diterima selepas ini. Lain-lain kontrak
baru di bawah Healthcare Management
termasuk
Integrated
Healthcare
Management Sdn Bhd, Koperasi
Serbaguna Pekerja-Pekerja Malaysia Bhd
dan AIA United Healthcare. Dua Pusat
Kutipan baru dibuka pada Julai dan Ogos
tahun ini, sekali gus memperluaskan lagi
perkhidmatan Gribbles di seluruh
Malaysia.
Review
of OPERATIONS
Tinjauan Operasi
INDUSTRY
Dunham-Bush (Malaysia) Bhd
registered a turnover of RM450.9
million, a decline of about 2%
compared to RM459 million
registered in the previous financial
year. The decline in turnover was
mainly attributable to a weak demand
in the Asia-Pacific region due to the
economic crisis. The group also
recorded a larger pre-tax loss of
RM25.8 million compared to a
previous loss of RM7.9 million
mainly due to the dismal
performances of our subsidiaries in
the USA and UK. The loss also
included exceptional items related to
changes in the accounting rule in the
UK which resulted in our UK
operation writing down the carrying
value of assets (building and land) to
market value.
Our Malaysian operations however
achieved commendable results and
generated a turnover of RM129
million and profit before tax of
RM13 million in spite of the
difficult trading conditions. With
the commissioning of a new factory
in Kajang and various positive
measures implemented by the
government to improve the economy,
we believe that our Malaysian
INDUSTRI
Dunham-Bush
(Malaysia)
Bhd
mencatatkan
perolehan
sebanyak
RM450.9 juta, penyusutan kira-kira 2%
berbanding sebanyak RM459 juta yang
dicatatkan pada tahun kewangan
sebelumnya. Penyusutan dalam
perolehan ini adalah disebabkan oleh
kelembapan permintaan di rantau AsiaPasifik akibat kegawatan ekonomi.
Kumpulan turut mencatatkan kerugian
sebelum cukai yang lebih besar sebanyak
RM25.8 juta berbanding kerugian
sebanyak RM7.9 juta sebelum ini.
Kerugian ini tidak dapat dielakkan ekoran
prestasi
mengecewakan
anak-anak
syarikat kami di Amerika Syarikat dan
United Kingdom. Kerugian ini turut
meliputi perkara luar biasa berbangkit
daripada pindaan peraturan perakaunan
di United Kingdom yang membawa
kepada penyusutan nilai aset anak
syarikat kami di United Kingdom
(bangunan dan tanah) mengikut nilai
pasaran.
Meskipun
menghadapi
pelbagai
rintangan akibat krisis ekonomi Asia,
operasi di Malaysia masih mampu
mencatatkan
keuntungan
yang
menggalakkan dan menghasilkan
perolehan sebanyak RM129 juta dan
keuntungan sebelum cukai sebanyak
59
REVIEW
OF OPERATIONS
Tinjauan Operasi
operations would continue to
spearhead the growth of the group
in the future. During the year, the
group also introduced a new
networking system linking its two
factories in Malaysia through the
introduction of a 128 kbps leased
line backed by an ISDN line. The
new system would contribute towards
lower production costs in Malaysia.
We anticipate that our Malaysian
operations would continue to remain
profitable in the coming financial
year as the Malaysian and regional
economy recovers from the 1997
crisis.
Dunham-Bush WCTA-180 Steam
Powered Absorption Chiller in
Harrisonburg, Virginia.
Meanwhile, we are taking firm steps
and measures to reduce the losses of
our subsidiaries in the USA by
restructuring the management of
these subsidiaries. We are also
moving the manufacturing of
labour-intensive products from the
USA to Mexico to take advantage of
the lower labour costs there. We are
eliminating the manufacturing of
unprofitable product lines to enable
the USA operations to focus on the
better margin compressorised chiller products. The company is also
pursuing the possibility of selling off
its
large
Harrisonburg
manufacturing facility and land bank
and relocate the operation to a
smaller leased facility.
With our continuous efforts and
investments in research and
development, new hi-tech factories
and development of human resources,
we are confident that the group
would achieve its aim to become a
global player and return to
profitability in the next financial year.
The Group’s involvement in the
manufacturing and sale of wood
products is through Finewood
Forest Products Sdn Bhd and
Berjaya Wood Furniture (M) Sdn
Bhd. During the year, Finewood
Forests Products Sdn Bhd registered
60
RM13 juta. Melalui pengendalian operasi
di kilang baru kami di Kajang dan
pelaksanaan pelbagai langkah positif
oleh Kerajaan demi memulihkan
ekonomi, kami percaya operasi di
Malaysia akan terus menerajui
pertumbuhan kumpulan pada masa akan
datang. Dalam tahun di bawah kajian,
kumpulan turut memperkenalkan satu
sistem
rangkaian
baru
yang
menghubungkan dua kilang kami di
Malaysia melalui talian pajakan 128 kbps
dengan sokongan talian ISDN. Sistem
baru ini dijangka bakal menyumbang
kepada kos pengeluaran yang lebih
rendah di Malaysia. Operasi kami
di Malaysia dijangka akan terus
mencatatkan perolehan dan keuntungan
yang memuaskan pada tahun kewangan
akan datang sejajar dengan pemulihan
ekonomi Malaysia dan serantau selepas
krisis tahun 1997.
Sementara itu, pelbagai langkah tegas
telah diambil bagi mengurangkan
kerugian anak-anak syarikat kami di
Amerika Syarikat dengan menyusun
semula pengurusan anak-anak syarikat
tersebut. Kami juga turut memindahkan
aktiviti pengeluaran produk yang
membabitkan penggunaan tenaga buruh
secara intensif ke Mexico sebagai
langkah mengurangkan kos tenaga buruh.
Kami turut menghentikan pengeluaran
produk yang tidak menghasilkan
keuntungan dan memastikan bahawa
operasi kami di Amerika Syarikat mampu
memperbaiki margin produk penyejukpemampat. Syarikat kini sedang giat
mengkaji rancangan untuk menjual
kawasan dan kilang Harrisonburg besar
miliknya dan menempatkan semula
operasi ke kawasan pajakan yang lebih
kecil.
Melalui strategi-strategi kami yang
membabitkan usaha dan pelaburan dalam
penyelidikan dan pembangunan, kilangkilang baru berteknologi tinggi dan
pembangunan sumber manusia, kami
yakin kumpulan mampu merealisasikan
matlamatnya untuk muncul sebagai
pencabar utama di peringkat global dan
bakal menikmati kembali keuntungan
dalam tahun kewangan akan datang.
REVIEW
OF OPERATIONS
Tinjauan Operasi
an increase in turnover and profit due
the successful introduction of two
new products namely Solid Strip Wood
Flooring and Wood-Based Garden
Products. However, the results were
negatively affected by the increase in
freight charges as well as the increase
in insurance costs and high expenses
in maintenance and repair.
Our plant which is comprehensively
equipped with a full range of facilities
among others include 15 chambers of
kiln dryers, optimising saw, fingerjointer,
laminators,
moulders,
tenoners and a new German-made
strip flooring line has now ranked the
company amongst the top five in the
moulding industry in Malaysia.
About 98% of our products are
exported and key markets include
United Kingdom, Europe and the Far
East. The outlook for the next
financial year remains a challenging
one in view of the depressed global
market for moulded forest products
and the overall slowdown in global
growth. We will continue to expand
our range of flooring products and
penetrate a broader market base
especially in Europe as well as expand
our garden items in the Far East,
American and European markets.
Kumpulan bergiat dalam pengeluaran
dan penjualan produk kayu melalui
Finewood Forest Products Sdn Bhd dan
Berjaya Wood Furniture (M) Sdn Bhd
Dalam tahun kajian, Finewood Forests
Products
Sdn
Bhd
mencatatkan
peningkatan dalam perolehan dan
keuntungan hasil kejayaan dua produk
yang baru diperkenalkan iaitu ‘Solid
Strip Wood Flooring’ dan ‘Wood-Based
Garden Products’. Walau bagaimanapun,
keputusan yang dicatatkan ini terjejas
akibat kenaikan caj pengangkutan serta
kenaikan kos insurans dan perbelanjaan
yang
tinggi
dalam
kerja-kerja
menyelenggara dan membaiki.
Loji kami adalah serba lengkap dengan
peralatan dan kemudahan menyeluruh
yang antaranya meliputi 15 kebuk
pengering tanur, gerigi optimum,
penyambung cabang, penyalut, pembuat
acuan, ‘tenoner’ dan kepingan jaluran
lantai baru buatan Jerman. Berikutan itu,
syarikat turut tersenarai dalam
lingkungan lima syarikat unggul industri
pengacuan di Malaysia. Kira-kira 98%
daripada produk kami dieksport ke luar
negara di mana pasaran-pasaran utama
termasuklah United Kingdom, Eropah dan
Timur Jauh. Tahun kewangan akan datang
dijangka menghadapi pelbagai cabaran
berdasarkan kemerosotan pasaran global
untuk produk kayu dari acuan dan
pertumbuhan global yang lembap secara
keseluruhannya. Kami akan terus
Representatives from our worldwide
distributors visiting Dunham-Bush’s
factory in Kajang, Malaysia.
61
REVIEW
OF OPERATIONS
Tinjauan Operasi
Wood manufacturing
process at
Finewood’s plant.
Meanwhile, Berjaya Wood Furniture
(M) Sdn Bhd has been restructured
and recommenced operation in June
1998 after two years of inactivity.
The company currently develops
various types of furniture like
computer tables, utility tables and
industrial components and plans to
develop additional products with
designs that cater to the needs of the
21st century. Current exports are
mainly to the Far East and American
markets. In recent months, several
key orders have started to come in,
making the outlook for the current
financial year to be more positive.
The textile division of the Group is
vertically integrated with yarn
spinning operation under Berjaya
Soutex Sdn Bhd, knitted fabric
making operation under Berjaya
Knitex Sdn Bhd and garment
making operation under Berjaya
Bandartex Sdn Bhd.
Profit before tax for Berjaya
Bandartex Sdn Bhd and Berjaya
Knitex Sdn Bhd registered marked
increases especially the former due to
cost saving measures that had been
put in place, low incidence of airfreighting resulting from better
planning and control, a dedicated
workforce, lower interest expenses
and a stable exchange rate. Despite
chalking up an increase in turnover,
Berjaya Soutex Sdn Bhd however,
recorded a slightly lower profit in
view of higher raw materials cost due
62
Berjaya KnitexKnitting process.
A range of wood-based
building products from
Finewood.
memperkembangkan rangkaian produk
lantai kami dan menembusi pasaran yang
lebih luas khasnya di Eropah serta
memperluaskan barangan kegunaan
taman di pasaran Timur Jauh, Amerika
Syarikat dan Eropah.
Sementara itu, Berjaya Wood Furniture
(M) Sdn Bhd telah disusun semula dan
mula mengendalikan semulanya operasi
pada Jun 1998 selepas dua tahun tidak
beroperasi. Syarikat kini sedang membina
pelbagai jenis perabot seperti meja
komputer, meja serba guna dan
komponen perindustrian dan pada masa
yang
sama,
merancang
untuk
menghasilkan produk tambahan dengan
reka bentuk yang menepati keperluan
abad ke-21. Kebanyakan eksport semasa
adalah ke pasaran Timur Jauh dan
Amerika.
Sejak
beberapa
bulan
kebelakangan ini, beberapa pesanan
penting mula diterima dan dengan ini,
prospek bagi tahun kewangan semasa
dijangka lebih memberangsangkan.
Bahagian tekstil Kumpulan adalah
bersepadu sepenuhnya di mana operasi
pintalan benang diletakkan di bawah
pengendalian Berjaya Soutex Sdn Bhd,
operasi membuat fabrik yang dikait
adalah di bawah Berjaya Knitex Sdn Bhd
dan operasi membuat pakaian di bawah
Berjaya Bandartex Sdn Bhd.
Berjaya Bandartex Sdn Bhd dan Berjaya
Knitex Sdn Bhd mencatatkan peningkatan
yang ketara dalam keuntungan sebelum
cukai khasnya Berjaya Bandartex Sdn Bhd
ekoran pelaksanaan langkah-langkah
penjimatan kos, kadar penggunaan
pengangkutan udara yang rendah hasil
REVIEW
OF OPERATIONS
Tinjauan Operasi
to the unfavourable exchange rate
during the first half of the financial
year and lower selling prices for the
second half of the financial year.
The major export markets of Berjaya
Bandartex Sdn Bhd are still the
European Union and USA.
Considering the current customer
profile, the USA market will
henceforth be the dominant market
and will continue to grow in view of
the strong US dollar which make
imports cheaper. This coupled with
the prevailing vibrant USA economy
will help to sustain the present level
of high consumer demand. Besides
concentrating to build up our
existing customers in the European
Union, the company will at the
same time explore for
new customers.
Together
with
the
recovering economy and a
robust export market, the
performance of the textile
division in the next financial
year will be better.
Shinca Sdn Bhd is principally
involved in the manufacturing and
assembling of consumer electronics
products and computer monitors.
The company was awarded the ISO
9002 certification by SIRIM
Malaysia in 1995 and achieved the
China CCIB Quality Assessment
Certification in 1999. Shinca also
provides contract manufacturing for
multi-national companies in electronic
assemblies and manufacturing such
as Sony, Sharp-Roxy, Acer and
Nikko and OEM for computer
monitors. The company also
specialises in the manufacture and
assembly of audio products, PCB
and mecha deck.
For the financial year ended 30 April
1999, Shinca made the highest ever
profit of RM2.2 million since its
perancangan dan pengawalan yang lebih
baik, tenaga kerja yang berdedikasi,
perbelanjaan faedah yang lebih rendah
dan kadar pertukaran yang stabil.
Meskipun memperlihatkan peningkatan
dalam perolehan, Berjaya Soutex Sdn Bhd
bagaimanapun mencatatkan keuntungan
yang rendah sedikit memandangkan
kenaikan kos bahan mentah berikutan
kadar pertukaran yang negatif dalam
separuh pertama tahun kewangan serta
harga jualan yang lebih rendah pada
separuh kedua tahun kewangan.
Berjaya Soutex - Spinning process.
Pasaran eksport utama Berjaya Bandartex
Sdn Bhd masih lagi Kesatuan Eropah dan
Amerika Syarikat. Berdasarkan keperluan
semasa pelanggan, Amerika Syarikat
dijangka bakal menjadi pasaran utama
dan akan terus berkembang berikutan
kedudukan kukuh nilai dolar Amerika
Syarikat yang menyebabkan import
menjadi lebih murah. Faktor ini
di samping pertumbuhan
pesat ekonomi Amerika
Syarikat akan membantu
mengekalkan tahap permintaan
pengguna yang tinggi buat
masa ini. Selain menumpukan
perhatian untuk meningkatkan asas
pelanggan sedia ada di Kesatuan Eropah,
pada masa yang sama syarikat juga akan
cuba menarik pelanggan-pelanggan baru.
Seiring dengan pemulihan ekonomi dan
kemantapan pasaran eksport, prestasi
bahagian tekstil dijangka lebih memuaskan
pada tahun akan datang.
S h i n c a S d n B h d terlibat dalam
pengeluaran dan pemasangan barangan
elektronik dan monitor komputer untuk
pengguna. Syarikat berjaya menerima sijil
perakuan ISO 9002 oleh SIRIM Malaysia
pada tahun 1995 dan memperolehi Sijil
Penilaian Kualiti CCIB China pada tahun
1999. Shinca turut menawarkan kontrak
kepada syarikat-syarikat multi-nasional
untuk mengeluar dan memasang barangan
elektronik seperti Sony, Sharp-Roxy, Acer
dan Nikko serta OEM untuk monitor
komputer. Syarikat juga merupakan pakar
dalam mengeluar dan memasang
barangan audio, PCB dan dek mekanikal.
Shinca - Mecha deck assembling.
63
REVIEW
OF OPERATIONS
Tinjauan Operasi
Shinca Assembling
of computer
monitors.
incorporation
in
1987. The
contributing factor was the increase
in export sales from RM1 million to
RM5 million to Wells-Gardner,
USA, during the year. Lower direct
labour and other overheads costs also
contributed to the increase in profit.
To be more competitive in the
industry, Shinca plans to move into
higher value added processes and
high technology products. Shinca
also plans to introduce Surface
Mount Technology with capabilities
of mounting Chip Scale Packaging,
Ball Grid Arrays and Flip Chips
components; and venture into
manufacturing and assembling of
computer peripheral and IT related
products to further widen its
customer base.
The economic downturn had
affected the performance of Berjaya
Le Run Industries Berhad,
manufacturer and distributor of a
wide range of quality bicycles under
popular brands such as Le Run,
Yokohama, Champion and Nishiki.
As a result, the company recorded a
20% decline in sales mainly due to a
weak consumer market, high interest
rates and high import component
costs. The decline was also due to the
dumping of stock by other local
bicycle manufacturers, which were
badly affected by the downturn.
However the company took
advantage of the weakening
Malaysian Ringgit to tap new export
markets particularly in Japan and
Singapore and this strategy had
64
Bagi tahun kewangan berakhir 30 April
1999, Shinca berjaya mempamerkan
perolehan
paling
unggul
pernah
dicatatkan sebanyak RM2.2 juta sejak
mula diperbadankan pada tahun 1987.
Faktor yang menyumbang kepada
pencapaian ini adalah kenaikan jualan
eksport kepada RM5 juta daripada RM1
juta kepada Wells-Gardner, Amerika
Syarikat dalam tahun kajian. Kos buruh
dan kos-kos overhed lain yang lebih
rendah turut menyumbang kepada
peningkatan keuntungan.
Shinca berhasrat untuk mengendalikan
proses yang lebih berkualiti dan produk
berteknologi tinggi agar dapat menyaingi
saingan dalam industri. Shinca juga
bercadang
untuk
memperkenalkan
Teknologi ‘Surface Mount’ yang berupaya
melekapkan ‘Chip Scale Packaging’, ‘Ball
Grid Arrays’ dan komponen ‘Flip Chips’
serta turut bergiat dalam pengeluaran
dan pemasangan peranti persisian
komputer serta produk yang berkaitan
dengan IT untuk memperluaskan lagi
asas pelanggannya.
Kegawatan ekonomi telah menjejaskan
prestasi Berjaya Le Run Industries
Berhad, pengeluar dan pengedar
pelbagai rangkaian basikal berkualiti
dan berjenama seperti Le Run,
Yokohama, Champion dan Nishiki.
Berikutan kemerosotan pasaran, kadar
faedah yang tinggi dan kos tinggi
komponen yang diimport, penjualan
susut 20% ditambah dengan lambakan
stok oleh pengeluar basikal tempatan
akibat kegawatan ekonomi.
Walau
bagaimanapun,
syarikat
memanfaatkan kejatuhan nilai Ringgit
dengan menceburi pasaran eksport baru
khasnya di Jepun dan Singapura. Strategi
REVIEW
OF OPERATIONS
Tinjauan Operasi
Top-of-the-line
bicycles from LeRun.
translated into an increase of 15% in
export sales.
ini membuahkan hasil dengan peningkatan
15% dalam jualan eksport.
We also expanded into nontraditional distribution networks such
as the giant USA toy stores and
Toys ‘R’ Us, and The Catalog Shop
Megastores. As the market leader of
bicycle distribution in Malaysia, we
will continue to expand our dealers’
network and customer base through
aggressive marketing strategies,
establish our own niche segment
in the domestic market as well as
move aggressively into the
export market. Our future
export markets include
Asia, European Union,
Australia, New Zealand and the
G-15 countries. As the economy
recovers, the prospect of the industry
is good and we anticipate that our
sales in the coming financial year will
be better.
Kami turut memperluaskan aktiviti
dengan menyertai rangkaian pengedaran
baru seperti gedung mainan di Amerika
Syarikat, Toys R Us dan The Catalog Shop
Megastores. Sebagai peneraju pasaran
pengedaran basikal di Malaysia, kami
akan terus memperluaskan rangkaian
wakil jualan kami dan asas pelanggan
melalui strategi pemasaran yang giat,
membentuk segmen kami sendiri
dalam pasaran domestik serta
berusaha dengan giat menceburi
pasaran eksport. Pasaran eksport
yang bakal diterokai termasuk
Asia, Kesatuan Eropah,
Australia, New Zealand dan
negara-negara G-15. Prospek
industri dijangka cerah hasil pemulihan
ekonomi dan kami meramalkan aktiviti
penjualan kami pada tahun kewangan
akan datang bakal menunjukkan prestasi
yang lebih baik.
Through United Approach Sdn Bhd,
we own and manage an educational
establishment known as Berjaya
International College or Kolej
Antarabangsa Berjaya, aiming at
providing quality education at an
affordable price to all Malaysians who
aspire for higher education. The
vision of the College is to provide
highly qualified and capable graduates
who will be thinkers, movers and
molders of society in Malaysia and
the region. It also aims to promote
and facilitate inter-country cooperation and cultural exchange.
Melalui United Approach Sdn Bhd, kami
memiliki dan menguruskan pusat
pendidikan yang dikenali sebagai Berjaya
International
College
atau
Kolej
Antarabangsa Berjaya demi menyediakan
pendidikan berkualiti yang mampu
dibayar oleh orang ramai yang ingin
mendalami pendidikan tinggi. Wawasan
Kolej adalah melahirkan siswazah
berkelayakan tinggi yang mampu menjadi
pemikir, penggerak dan pembentuk
masyarakat di Malaysia dan rantau ini.
Matlamat Kolej juga adalah menggalakkan
dan mengeratkan kerjasama dan
pertukaran budaya masyarakat berbilang
bangsa dan keturunan.
Students enquiring about
courses offered by
Kolej Antarabangsa Berjaya
in Petaling Jaya.
65
Review
of OPERATIONS
Tinjauan Operasi
Social
RESPONSIBILITY
66
Goodwill visit to the children’s
ward at Universiti Hospital,
organised by Sports Toto.
The Group continued to carry out
its social responsibility diligently
notwithstanding
the
economic
slowdown prevailing in the country
during the year. The needy and the
less fortunate continued to benefit
from the success of the Group’s
operations.
Kumpulan
In the financial year, BHR has
embarked on various community
projects in keeping with its objective
to be a good corporate citizen. These
include “gotong-royong” projects to
clean up towns and beaches, helping
the less fortunate, fund raising
projects for worthy causes like Tabung
Barisan Bertindak Kosovo and JE
Humanitarian Fund, environment
projects and other charitable activities.
Dalam tahun kewangan, BHR memulakan
Resort had also sponsored various
charity events including the “Riding for
Disabled” and the Malaysian Society of
Rheumatology’s Arthritis Day.
Sports Toto has also simultaneously
put in its concerted effort in fulfilling
its social responsibilities to the country
during the year by contributing
Sports Toto juga turut menjalankan
sentiasa
tanggungjawab
menunaikan
sosialnya
meskipun
menghadapi kegawatan ekonomi yang
melanda negara dalam tahun di bawah
kajian. Golongan yang serba kekurangan
dan
kurang
bernasib
baik
terus
menikmati ganjaran daripada kejayaan
operasi Kumpulan.
pelbagai projek kemasyarakatan sejajar
dengan matlamatnya sebagai warga
korporat yang prihatin. Ini termasuk
projek-projek
“gotong-royong”
bagi
membersihkan bandar dan kawasan
pantai, membantu golongan yang kurang
bernasib baik, kutipan derma untuk
tujuan kebajikan seperti Tabung Barisan
Bertindak
Kosovo
dan
Tabung
Kemanusiaan JE, projek alam sekitar dan
aktiviti-aktiviti amal yang lain.
Resort juga turut menaja pelbagai majlis
amal termasuk “Menunggang untuk
Golongan Kurang Upaya” dan Hari
Artritis Persatuan Reumatologi.
usaha bersepadu untuk menunaikan
tanggungjawab sosialnya kepada negara
dalam tahun di bawah kajian dengan
REVIEW
OF OPERATIONS
Tinjauan Operasi
generously towards various charitable
activities, sponsorships and donations.
Among these are the Cancerlink
Foundation,
Malaysian
Liver
Foundation, Monfort Boys Town,
Mount Miriam Hospital, National
Kidney Foundation, Pertubuhan
Pendidikan
Anak-Anak
Yatim
Selangor (Rumah Bakti), Pertubuhan
Kebajikan Anak-Anak Yatim Miskin,
Kelang (Peyakin), St. John Ambulans
Malaysia, the Little Sisters of the Poor
and the JE Humanitarian Fund by
carrying out four special Toto Draws.
Under Sports Toto’s “We Care”
charity programme, the company
organized the Chinese New Year Ang
Pow Donation for the eleventh year
and brought joy to 13,000 needy
senior citizens at 46 distribution
centres throughout the country.
Similar donation activities were also
carried out during the Hari Raya and
Deepavali celebrations. Orphans at
Peyakin were treated to a Berbuka
Puasa dinner during the celebration of
Hari Raya and a pleasure trip to Desa
Waterpark was organized for the
under-privileged children during the
Chinese New Year celebration.
menyampaikan sumbangan yang besar
kepada pelbagai aktiviti amal, tajaan
dan derma. Antaranya termasuk Yayasan
Cancerlink, Yayasan Jantung Malaysia,
Monfort Boys Town, Mount Miriam
Hospital,
Yayasan
Buah
Pinggang
Kebangsaan, Pertubuhan Pendidikan
Anak-Anak
Yatim
Selangor
(Rumah
Bakti), Pertubuhan Kebajikan Anak-Anak
Yatim Miskin, Klang (Peyakin), St. John
Ambulans Malaysia, ‘Little Sisters of the
Poor’ dan Tabung Kemanusiaan JE
dengan mengadakan empat Cabutan
Minister of National Unity and Social
Development, YB Datin Paduka
Zaleha Ismail handing out a packet of
goodies to a senior citizen during the
recent Chinese New Year Ang Pow
Donation Drive by Sports Toto.
Khas Toto.
Melalui
program
kebajikan
“Kami
Prihatin” Sports Toto, syarikat telah
menganjurkan Derma Ang Pau Tahun
Baru Cina buat kali kesebelas berturutturut di 46 buah pusat pengedaran
seluruh negara untuk meraikan 13,000
warga tua yang kurang bernasib baik.
Aktiviti-aktiviti sumbangan derma juga
turut diadakan sempena sambutan Hari
Raya
dan
Deepavali.
Kami
turut
meraikan anak-anak yatim di Peyakin
dengan mengadakan majlis Berbuka
Puasa sempena sambutan Hari Raya. Di
samping itu, satu lawatan ke Desa
WaterPark turut dianjurkan untuk kanakkanak
yang
kurang
bernasib
baik
sempena perayaan Tahun Baru Cina.
Chinese New Year Ang Pow Donation Drive
launched in Kuala Lumpur in February 1999.
67
REVIEW
OF OPERATIONS
Tinjauan Operasi
A donation to the
Paediatric AIDS
Fund from Berjaya
Coffee Company.
A charitable run organised by
Berjaya Hotels & Resorts in
Seychelles.
Sports Toto sponsored
the Karate-Do
Competition ‘99.
In the field of sports promotion and
development, Sports Toto contributed
RM45.9 million to the National
Sports Council during the year. Many
other deserving sporting activities also
continued to receive the company’s
support and contribution. These
include the Malay Mail Big Walk,
International Penang Bridge Run,
Larian Hijau, Conquer the Empire
Tower, National Day Xiangqi
competition, etc.
Sports Toto menyumbangkan sebanyak
RM45.9
juta
kepada
Majlis
Sukan
Negara sebagai sumbangannya bagi
menggalakkan aktiviti dan pembangunan
sukan. Banyak pihak lain yang juga
bergiat
dalam
aktiviti
sukan
turut
menerima sokongan dan sumbangan
daripada syarikat. Antaranya termasuk
Malay
Mail
Big
Walk,
Larian
Antarabangsa Jambatan Pulau Pinang,
Larian Hijau, Conquer the Empire Tower,
pertandingan Hari Kebangsaan Xiangqi
dan lain-lain lagi.
Staff from Berjaya Hotels &
Resorts brings joy to the
less fortunate.
68
In support of
the Commonwealth Games 1998.
Directors’ Report
77
Statement by Directors
77
Statutory Declaration
78
Report of the Auditors to the Members
79
Balance Sheets
80
Profit & Loss Accounts
81
Consolidated Cash Flow Statement
83
Notes to the Accounts
FINANCIAL STATEMENT
70
Directors’
R
E
P
O
R
T
FOR THE YEAR ENDED 30 APRIL 1999
The directors have pleasure in submitting their report together with the audited accounts of the Company and of
the Group for the financial year ended 30 April 1999.
P R I N C I PA L A C T I V I T I E S
The principal activities of the Company consist of investment holding and provision of management services.
The principal activities of the subsidiary and associated companies are described in Note 36 to the accounts.
RESULTS
Group
RM’000
Profit before taxation
Taxation
Company
RM’000
304,759
(26,979)
40,138
49
Minority interests
277,780
(387,631)
40,187
-
(Loss)/Profit attributable to shareholders
Retained profits brought forward
(109,851)
541,686
40,187
475,717
Profit available for appropriation
Transfer from reserves
Accretion of interest in subsidiary companies
Dividends
431,835
3,653
44,806
(38,308)
515,904
(38,308)
Retained profits carried forward
441,986
477,596
DIVIDENDS
The amount of dividends paid or declared by the Company since 30 April 1998 were as follows:
RM’000
In respect of the financial year ended 30 April 1998 as proposed in the directors’ report of that year Final dividend of 1 sen per share, less 28% tax paid on 19 February 1999
8,753
The directors recommend a first and final tax exempt dividend of 3 sen per share, amounting to approximately
RM38,308,000 in respect of the current financial year. The proposed final dividend of 3% per share is based on the
Company’s issued and paid-up share capital of 1,276,929,000 ordinary shares of RM1.00 each as at 30 April 1999.
RESERVES AND PROVISIONS
There were no material transfers to or from reserves or provisions during the financial year other than as
disclosed in Notes 22 and 24 to the accounts.
BAD AND DOUBTFUL DEBTS
Before the profit and loss accounts and balance sheets were made out, the directors took reasonable steps to
ascertain that action had been taken in relation to the writing off of bad debts and the making of provision for
doubtful debts and satisfied themselves that all known bad debts had been written off and that adequate
provision had been made for doubtful debts.
At the date of this report, the directors are not aware of any circumstances which would render the amount
written off for bad debts or the amount of provision for doubtful debts in the accounts of the Company and of
the Group inadequate to any substantial extent.
70
Directors’
R
E
P
O
R
T
CURRENT ASSETS
Before the profit and loss accounts and balance sheets were made out, the directors took reasonable steps to
ensure that any current assets which were unlikely to be realised in the ordinary course of business including
their values as shown in the accounting records of the Company and of the Group have been written down to an
amount which they might be expected so to realise.
At the date of this report, the directors are not aware of any circumstances which would render the values
attributed to the current assets in the accounts of the Company and of the Group misleading.
VA L U AT I O N M E T H O D S
At the date of this report, the directors are not aware of any circumstances which have arisen which render
adherence to the existing methods of valuation of assets or liabilities of the Company and of the Group
misleading or inappropriate.
CONTINGENT AND OTHER LIABILITIES
At the date of this report, there does not exist:(a) any charge on the assets of the Company or of the Group which has arisen since the end of the financial
year which secures the liabilities of any other person; or
(b) any contingent liability of the Company or of the Group which has arisen since the end of the financial year,
other than in respect of underwriting commitments made in the ordinary course of business by the
stockbroking subsidiary companies of the Group.
No contingent or other liability has become enforceable or is likely to become enforceable within the period of
twelve months after the end of the financial year which, in the opinion of the directors, will or may substantially
affect the ability of the Company or of the Group to meet their obligations when they fall due.
For the purpose of the paragraph, contingent or other liabilities do not include liabilities arising from contracts of
insurance underwritten in the ordinary course of business of an insurance subsidiary company of the Group.
CHANGE OF CIRCUMSTANCES
At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report or
the accounts of the Company or of the Group which would render any amount stated in the accounts misleading.
ITEMS OF AN UNUSUAL NATURE
The results of the operations of the Company and of the Group during the financial year were not, in the
opinion of the directors, substantially affected by any item, transaction or event of a material and unusual nature,
other than as disclosed in Note 26 to the accounts.
There has not arisen in the interval between the end of the financial year and the date of this report any item,
transaction or event of a material and unusual nature likely, in the opinion of the directors, to affect substantially
the results of the operations of the Company or of the Group for the financial year in which this report is made.
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
Significant events during the financial year are disclosed in Note 34 to the accounts.
SUBSEQUENT EVENTS
Significant events subsequent to the end of the financial year are disclosed in Note 35 to the accounts.
71
Directors’
R
E
P
O
R
T
ISSUE OF SHARES
During the financial year, the Company increased its authorised share capital from 2,000 million to 5,000 million
ordinary shares of RM1.00 each by the creation of 3,000 million ordinary shares of RM1.00 each and issued
61,167,000 new ordinary shares of RM1.00 each arising from the conversion of RM122,334,000 6% Irredeemable
Convertible Unsecured Loan Stocks 1996/2001 (“BGB ICULS”) at the rate of RM2.00 nominal value of BGB
ICULS for one fully paid ordinary share.
STAFF SHARE OPTION SCHEME
The Berjaya Group Berhad Staff Share Option Scheme was approved by the shareholders at an Extraordinary
General Meeting on 22 February 1990 and became effective on 12 April 1990. The main features of the Staff
Share Option Scheme are as follows:(a) Eligible staff are those who are confirmed employees including full-time Executive Directors of the
Company and its non-listed subsidiary companies.
(b) The options granted may be exercised at any time within a period of five years from the date of offer of the
options except for options granted based on length of service which can only be exercised after two years
from the date of offer.
(c) The options may be exercised in respect of such lesser number of ordinary shares provided that the number
shall be in multiples of 1,000 shares. Such partial exercise of the options shall not preclude the holders from
exercising the options as to the balance of the ordinary shares.
(d) The exercise price for each ordinary share under the option scheme shall be the average of the mean
market quotation of the shares as shown in the Daily Official List issued by the Kuala Lumpur Stock
Exchange for the five market days preceding the respective date of offer or at the par value of the ordinary
shares of the Company whichever is higher.
(e) The maximum amount of shares that may be offered under the Scheme shall not be more than ten per
centum of the enlarged issued and paid-up ordinary share capital of the Company at any point of time
during the existence of the Scheme.
The Staff Share Option Scheme which expired on 4 April 1995 was renewed for a further five years to 4 April
2000 at an Extraordinary General Meeting of the Company held on 20 March 1995.
The movement in the options to take up unissued new ordinary shares of RM1.00 each is as follows:Number of ordinary
shares under option
At 1 May 1998
Granted and accepted net of forfeiture
on resignations during the financial year
Lapsed during the financial year
72
23,457,000
12,649,000
(661,000)
Exercised during the financial year
35,445,000
-
At 30 April 1999
35,445,000
Directors’
R
E
P
O
R
T
The cumulative options exercised and their remaining unexercised options as at 30 April 1999 are as follows:-
Number of ordinary
shares of RM1.00 each
First offer
Second offer
Third offer
Fourth offer
Fifth offer
Sixth offer
Seventh offer
Eighth offer
Ninth offer
Cumulative
options
exercised
Options
unexercised
3,637,000
1,425,500
2,234,500
2,398,000
2,326,000
1,195,000
2,427,000
-
1,885,000
5,017,000
5,977,000
9,000,000
13,566,000
15,643,000
35,445,000
Option
price per
ordinary
share of
RM1.00
each
RM
1.59
1.38
1.05
2.12
2.54
1.84
1.59
2.10
1.00
DIRECTORS
The directors who served since the date of the last report are:
Tan Sri Dato’ Seri Tan Chee Yioun
Dato’ Tan Chee Sing
Tan Sri Dato’ Tan Kok Ping
Tan Sri Datuk Abdul Rahim bin Haji Din
Chan Kien Sing
Freddie Pang Hock Cheng
Khaw Ooi Tong
Robin Tan Yeong Ching
Dato’ Thong Kok Khee
Adam bin Bachek
Raja Ahmad Aminollah bin Raja Abdullah
(resigned on 20.5.1999)
DIRECTORS’ BENEFITS
During and at the end of the financial year, no arrangements subsisted to which the Company is a party, with the
object of enabling directors of the Company to acquire benefits by means of the acquisition of shares in or
debentures of the Company or any other body corporate other than the options granted to full-time Executive
Directors of the Company pursuant to the Staff Share Option Scheme.
Since the end of the previous financial year, no director has received or become entitled to receive a benefit
(other than a benefit included in the aggregate amount of emoluments received or due and receivable by the
directors as shown in the accounts and the share options granted as mentioned above) by reason of a contract
made by the Company or a related corporation with the director or with a firm of which he is a member, or with a
company in which he has a substantial financial interest, except for those benefits which may be deemed to have
arisen by virtue of those contracts, agreements and transactions entered into in the ordinary course of business
by the Company and its subsidiary companies with the companies in which the directors are deemed to have
substantial financial interest as disclosed in Note 31 to the accounts.
73
Directors’
R
E
P
O
R
T
DIRECTORS’ INTERESTS
According to the register of directors’ shareholdings, the interests of directors in office at the end of the financial
year in shares and debentures of the Company and its related corporations were as follows:
Direct interests
The Company:
Number of ordinary shares of RM1.00 each
At 1.5.98
Acquired
Disposed
At 30.4.99
Chan Kien Sing
Khaw Ooi Tong
509,240,966
43,058,000
12,696,000
297,000
125,000
36,000
230,000
-
7,203,499
50,000
9,500
5,000
6,249,000
29,000
-
516,444,465
36,809,000
12,696,000
297,000
175,000
45,500
201,000
5,000
Number of options over ordinary shares
of RM1.00 each
At 1.5.98
Granted
Lapsed
At 30.4.99
Tan Sri Datuk Abdul Rahim bin Haji Din
Chan Kien Sing
Khaw Ooi Tong
Robin Tan Yeong Ching
175,000
425,000
425,000
436,000
171,000
84,000
192,000
163,000
84,000
-
114,000
69,000
-
338,000
311,000
356,000
436,000
171,000
168,000
192,000
Number of 6% Irredeemable Convertible Unsecured
Loan Stocks 1996/2001 of RM1.00 each
At 1.5.98
Acquired
Converted
At 30.4.99
Chan Kien Sing
Khaw Ooi Tong
19,999,998
100,000
10,000
-
19,999,998
100,000
10,000
-
Subsidiary companies:
Berjaya Land Berhad:
At 1.5.98
Acquired
Disposed
At 30.4.99
23,417,561
180,750
576,000
At 1.5.98
5,000
49,135
131,000
-
159,000
23,548,561
180,750
417,000
Number of Warrants
Exercised/
Acquired
Expired
At 30.4.99
-
5,000
49,135
-
At 1.5.98
Acquired
Disposed
At 30.4.99
74
138,583
21,000
-
21,000
138,583
-
Cosway Corporation Berhad:
At 1.5.98
Acquired
Disposed
At 30.4.99
6,237,000
80,000
1,051,000
-
-
7,288,000
80,000
Number of 6% Redeemable Convertible Unsecured
At 1.5.98
Acquired
Redeemed
At 30.4.99
2,000
-
2,000
-
Directors’
R
E
P
O
R
T
DIRECTORS’ INTERESTS (CONTINUED)
Direct interests (continued)
Cosway Corporation Berhad (continued):
Number of Transferable Subscription Rights
At 1.5.98
Acquired
Expired
At 30.4.99
5,520
-
5,520
-
Berjaya Sports Toto Berhad:
At 1.5.98
Acquired
Disposed
At 30.4.99
3,926,666
523,582
4,000,000
45,000
315,000
-
-
4,241,666
523,582
4,000,000
45,000
Number of options over ordinary shares
of RM1.00 each
At 1.5.98
Granted
Lapsed
At 30.4.99
Unza Holdings Berhad:
500,000
300,000
500,000
300,000
At 1.5.98
Acquired
Disposed
At 30.4.99
162,000
-
-
162,000
86,332
10,000
316,000
10,000
10,000
10,000
10,000
-
148,000
-
86,332
10,000
168,000
10,000
10,000
10,000
10,000
Berjaya Capital Berhad:
Chan Kien Sing
Khaw Ooi Tong
Indirect interests by virtue of shares held by
companies in which the directors are interested
The Company:
At 1.5.98
Acquired
Disposed
At 30.4.99
177,712,246
12,475,000
1,599,500
-
-
179,311,746
12,475,000
Berjaya Land Berhad:
At 1.5.98
Acquired
Disposed
At 30.4.99
602,241,447
At 1.5.98
Cosway Corporation Berhad:
568,000
7,333,000
30,859,000
Number of Warrants
Acquired
Expired
1,484,000
2,052,000
578,715,447
At 30.4.99
-
At 1.5.98
Acquired
Disposed
At 30.4.99
206,796,667
55,765,879
9,530,000
253,032,546
Number of 6% Redeemable Convertible Unsecured
At 1.5.98
Acquired
Disposed/
At 30.4.99
Converted/
Redeemed
15,636,640
416,000
16,052,640
-
Number of Transferable Subscription Rights
At 1.5.98
Acquired
Exercised/
At 30.4.99
Expired
65,000
63,016,000
63,081,000
-
75
Directors’
R
E
P
O
R
T
DIRECTORS’ INTERESTS (CONTINUED)
Indirect interests by virtue of shares held by companies
in which the directors are interested (continued)
Subsidiary companies
Berjaya Sports Toto Berhad:
At 1.5.98
Acquired
Disposed
At 30.4.99
365,322,382
11,240,333
74,867,333
301,695,382
9,954,000
1,366,000
912,000
10,408,000
26,766,358
662,000
-
27,428,358
Unza Holdings Berhad:
Dunham-Bush (Malaysia) Bhd:
At 1.5.98
Acquired
Disposed
At 30.4.99
Berjaya Capital Berhad:
11,824,742
7,000
-
11,831,742
At 1.5.98
Acquired
Disposed
At 30.4.99
441,612,942 22,689,000
23,026,000
441,275,942
-
75,000
Cerah Bakti Sdn Bhd:
75,000
-
By virtue of his interests in the shares of Berjaya Group Berhad, Tan Sri Dato’ Seri Tan Chee Yioun is also deemed
interested in the shares of all the subsidiary companies of the Company to the extent the Company has an interest.
None of the other directors in office at the end of the financial year had any interest in shares and debentures in
the Company or its related corporations during the financial year.
AUDITORS
Arthur Andersen & Co. retire and have indicated their willingness to accept re- appointment.
Signed on behalf of the Board in accordance with a
resolution of the directors
TAN SRI DATO’ SERI TAN CHEE YIOUN
TAN SRI DATUK ABDUL RAHIM BIN HAJI DIN
Kuala Lumpur
Dated: 28 August 1999
76
Statement
B
Y
D
I
R
E
C
T
O
R
S
We, TAN SRI DATO’ SERI TAN CHEE YIOUN and TAN SRI DATUK ABDUL RAHIM BIN HAJI DIN,
being two of the directors of BERJAYA GROUP BERHAD, do hereby state that, in the opinion of the directors,
the accompanying balance sheets of the Company and of the Group as at 30 April 1999 and the related profit and
loss accounts of the Company and of the Group and cash flow statement of the Group for the year then ended,
together with the notes thereto, give a true and fair view of the state of affairs of the Company and of the Group as
at 30 April 1999 and of the results of the Company and of the Group and cash flows of the Group for the year then
ended, and have been properly drawn up in accordance with applicable approved accounting standards.
Signed on behalf of the Board in accordance with a
resolution of the directors
TAN SRI DATO’ SERI TAN CHEE YIOUN
TAN SRI DATUK ABDUL RAHIM BIN HAJI DIN
Kuala Lumpur
Dated: 28 August 1999
Statutory
D
E
C
L
A
R
A
T
I
O
N
I, ROBERT YONG KUEN LOKE, the director primarily responsible for the financial management of
BERJAYA GROUP BERHAD, do solemnly and sincerely declare that the accompanying balance sheets of the
Company and of the Group as at 30 April 1999 and the related profit and loss accounts of the Company and of
the Group and cash flow statement of the Group for the year then ended, together with the notes thereto are, to
the best of my knowledge and belief correct, and I make this solemn declaration conscientiously believing the
same to be true and by virtue of the provisions of the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the abovenamed
ROBERT YONG KUEN LOKE at Kuala Lumpur in
Wilayah Persekutuan on 28 August 1999
)
)
)
ROBERT YONG KUEN LOKE
Before me:
Commissioner for Oaths
Ali B. Isa
Kuala Lumpur
77
Auditors’
R
E
P
O
R
T
To the Shareholders of Berjaya Group Berhad
We have audited the accounts of BERJAYA GROUP BERHAD (the Company) and the consolidated accounts
of BERJAYA GROUP BERHAD AND ITS SUBSIDIARIES (the Group) as at 30 April 1999. These accounts
are the responsibility of the Company’s directors. Our responsibility is to express an opinion on these accounts
based on our audit.
We conducted our audit in accordance with approved Standards on Auditing in Malaysia. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the accounts are free
from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the accounts. An audit also includes assessing the accounting principles used and significant
estimates made by the directors, as well as evaluating the overall accounts presentation. We believe that our
audit provides a reasonable basis for our opinion.
In our opinion,
(a) the accounts give a true and fair view of the state of affairs of the Company and of the Group as at 30 April
1999 and of the results of the Company and of the Group and cash flows of the Group for the year then
ended, and have been properly drawn up in accordance with the provisions of the Companies Act, 1965 and
applicable approved accounting standards; and
(b) the accounting and other records and the registers required by the Act to be kept by the Company and the
subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of
the Act.
We have considered the accounts and the auditors’ reports of all the subsidiaries of which we have not acted as
auditors, as indicated in Note 36 to the accounts, being accounts that have been included in the consolidated accounts.
We are satisfied that the accounts of the subsidiaries that have been consolidated with the Company’s accounts
are in form and content appropriate and proper for the purposes of the preparation of the consolidated accounts
and we have received satisfactory information and explanations required by us for these purposes.
The auditors’ reports on the accounts of the subsidiaries were not subject to any qualification nor any adverse
comment made under subsection (3) of Section 174 of the Act.
Arthur Andersen & Co.
No. AF 0103
Public Accountants
28 August 1999
78
Wong Kang Hwee
No. 1116/1/2000 (J)
Partner of the Firm
Balance
S
H
E
E
T
S
AT 30 APRIL 1999
Group
Note
CURRENT ASSETS
Cash and bank balances
Deposits with financial institutions
Debtors
Stocks
Development properties
CURRENT LIABILITIES
Creditors
Short term borrowings
Bonds and convertible unsecured loan stocks
Taxation
Proposed dividend
NET CURRENT ASSETS
LONG TERM RECEIVABLES
FIXED ASSETS
OTHER INVESTMENTS
INVESTMENT PROPERTIES
CONCESSION ASSET
ASSOCIATED COMPANIES
SUBSIDIARY COMPANIES
INTANGIBLE ASSETS
LONG TERM BORROWINGS
OTHER LONG TERM LIABILITIES
DEFERRED TAXATION
FINANCED BY
Share capital
Reserves
SHAREHOLDERS’ FUNDS
IRREDEEMABLE CONVERTIBLE
UNSECURED LOAN STOCKS
MINORITY INTERESTS
CAPITAL FUNDS
INSURANCE RESERVES
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
171,150
195,176
2,469,210
734,555
1,771,311
129,158
359,755
3,003,845
794,743
1,727,725
139
4,129,578
-
115
3,142,223
-
5,341,402
6,015,226
4,129,717
3,142,338
2,248,978
1,702,741
258,234
38,308
2,066,882
2,538,726
235,056
370,367
8,753
2,810,878
224,442
38,308
1,663,785
308,080
8,753
4,248,261
5,219,784
3,073,628
1,980,618
1,093,141
3,395
2,701,328
647,178
582,550
149,436
425,446
2,650,863
(3,286,940)
(535,240)
(131,184)
795,442
139,168
2,468,317
1,123,940
663,530
496,510
115,511
2,812,364
(2,855,779)
(848,316)
(123,457)
1,056,089
3,804
42,965
3,409
46,799
1,335,417
(205)
-
1,161,720
5,130
56,128
3,409
46,545
1,213,618
587
(25)
(681)
-
4,299,973
4,787,230
2,488,278
2,486,431
1,276,929
1,366,601
1,215,762
1,424,412
1,276,929
1,211,349
1,215,762
1,148,335
2,643,530
2,640,174
2,488,278
2,364,097
18,292
1,596,381
140,699
1,050,388
-
122,334
-
4,258,203
41,770
3,831,261
955,969
2,488,278
-
2,486,431
-
4,299,973
4,787,230
2,488,278
2,486,431
The accompanying notes are an integral part of these balance sheets.
79
Profit
A
N
D
L
O
S
S
A
C
C
O
U
N
T
S
Group
Note
TURNOVER
25
PROFIT BEFORE TAXATION
Taxation
26
27
1999
RM’000
1998
RM’000
7,272,528
7,449,109
32,252
65,637
304,759
(26,979)
342,384
(109,030)
40,138
49
50,327
(9,503)
PROFIT AFTER TAXATION
Minority interests
277,780
(387,631)
233,354
(228,616)
40,187
-
40,824
-
(LOSS)/PROFIT ATTRIBUTABLE
TO SHAREHOLDERS
(109,851)
4,738
40,187
40,824
RETAINED PROFITS BROUGHT
FORWARD
541,686
575,114
475,717
456,359
PROFITS AVAILABLE FOR
APPROPRIATION
431,835
579,852
515,904
497,183
3,653
7,610
-
-
Transfer from reserves
Accretion/(dilution) of interest in
subsidiary companies
Dividends
28
44,806
(38,308)
(24,310)
(21,466)
(38,308)
(21,466)
RETAINED PROFITS CARRIED
FORWARD
22
441,986
541,686
477,596
475,717
(Loss)/Earnings Per Share
29
sen
(8.8)
sen
0.5
The accompanying notes are an integral part of these accounts.
80
Company
1999
1998
RM’000
RM’000
Consolidated
C
A
S
H
F
L
O
W
S
T
A
T
E
M
E
N
T
1999
RM’000
OPERATING ACTIVITIES
Receipts from customers/operating revenue
Payment to suppliers, prize winners and operating expenses
Payment for pool betting duties, gaming tax,
royalties and other government contributions
Payment of taxes net of tax refunds
Other receipts/(payments)
Net cash flow from operating activities
INVESTING ACTIVITIES
Sales of fixed assets and properties
Sales of investments in subsidiary companies
Sales of investments in associated companies
Sales of government securities and treasury bills
Sales of other investments
Acquisition of fixed assets and properties
Acquisition of investments in subsidiary companies
Acquisition of investments in associated companies
Acquisition of government securities and treasury bills
Acquisition of other investments
Interest received
Dividends received
Interest paid
Net (placement)/receipt on fixed and call deposits
Other net receipts/(placements) arising from investments
Net cash flow from investing activities
FINANCING ACTIVITIES
Issuance of share capital
Issuance of share capital to minority shareholders of subsidiary companies
Redemption of 9% CULS 1992/1997
Bank borrowings and loan finance
Loan/capital issuing expenses
Repayment of borrowings and loans
Payment of hire purchase/lease liabilities
Receipts on behalf of clients/dealers
(Payment of)/proceeds from other borrowings
Dividends paid
Dividends paid to minority shareholders of subsidiary companies
Net cash flow from financing activities
1998
RM’000
7,265,343
(5,941,137)
7,282,646
(6,039,300)
(415,752)
(150,412)
8,541
(414,179)
(174,273)
(65,160)
766,583
589,734
85,292
1,311,819
2,985
21,730
1,643
(465,043)
(178,293)
(5,791)
(21,088)
(99,564)
53,860
6,332
(632,352)
(7,950)
26,814
93,901
791,120
143,303
152,470
451,300
(489,985)
(1,005,955)
(100,112)
(201,974)
(598,213)
81,392
13,125
(751,857)
24,074
(226,457)
100,394
(1,623,868)
5,598
813,105
(1,314,924)
(26,623)
3,091
(264,381)
(8,753)
(59,870)
1,431
54,490
(615)
1,903,867
(5,945)
(1,009,111)
(39,746)
85,710
53,614
(58,767)
(143,204)
(852,757)
841,724
NET CASH INFLOW/ (OUTFLOW)
EFFECT OF EXCHANGE RATE CHANGES
OPENING CASH AND CASH EQUIVALENT
14,220
323
251,033
(192,410)
7,966
435,477
CLOSING CASH AND CASH EQUIVALENT
265,576
251,033
81
Consolidated
C
A
S
H
F
L
O
W
S
T
A
T
E
M
E
N
T
FOR THE YEAR ENDED 30 APRIL 1999 (CONTINUED)
Analysis of the effects of subsidiary companies acquired and disposed :-
Fixed assets
Investment and investment properties
Concession asset
Copyrights and other intangibles
Long term receivables
Debtors
Stocks
Deposits and cash at bank
Creditors
Taxation
Short and long term liabilities
Minority interests
Reserve on consolidation
Goodwill on consolidation
Net assets acquired/disposed
Less: Cash and cash equivalent of companies acquired/disposed
Balance of purchase consideration
Non cash consideration
Purchase/sales of shares in subsidiary companies
Receipts from disposal in previous years
Exceptional gain
Cash flow on acquisition/disposal (net of cash in subsidiary
companies acquired/disposed)
1999
Subsidiary
companies
acquired
RM’000
1999
Subsidiary
companies
disposed
RM’000
110,226
51,897
146,777
58,780
19,555
8,183
14,550
(133,556)
(2,140)
(81,950)
(74,327)
(14,388)
125,951
11,901
732,893
204,038
63,380
146,876
(79,089)
(1,802)
(953,339)
(35,489)
27,424
229,558
116,793
(1,933)
(14,780)
(160,625)
126,073
-
(7,786)
531,996
65,000
605,816
178,293
1,311,819
1999
RM’000
1998
RM’000
171,150
195,176
129,158
359,755
366,326
(100,750)
488,913
(237,880)
265,576
251,033
C A S H A N D C A S H E Q U I VA L E N T
The cash and cash equivalent comprise the following:
Cash and bank balances
Deposits with financial institutions
Less: Deposits placement by the insurance companies
The accompanying notes are an integral part of this statement.
82
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
1
P R I N C I PA L A C T I V I T I E S
The principal activities of the Company consist of investment holding and provision of management services.
The principal activities of the subsidiary and associated companies are described in Note 36 to the accounts.
2
SIGNIFICANT ACCOUNTING POLICIES
(a) Basis of accounting
The accounts are prepared under the historical cost convention modified by the revaluation of certain
land and buildings held as fixed assets or investment properties and, except as referred to in Note 5 and
Note 25 to the accounts, comply with applicable approved accounting standards. In the current
financial year, the Group applied certain transitional provisions in International Accounting Standard 16
(Revised), Property, Plant and Equipment by virtue of which a reporting enterprise which does not
adopt a policy of revaluation is allowed to retain revalued amounts on the basis of their previous
revaluation (subject to continuity in depreciation policy and the requirement to write an asset down to
its recoverable amount).
(b) Basis of consolidation
The consolidated accounts incorporate the accounts of the Company and all its subsidiary companies
made up to the end of the financial year, except for Taiga Forest Products Ltd., a Canadian listed
foreign subsidiary company, whose financial year end is 31 March 1999. Approval from the Registrar of
Companies has been obtained for this differing year end. All the subsidiary companies are consolidated
using the acquisition method of accounting except that acquisition of the subsidiary companies which
meet the criteria for merger accounting are accounted for under that method.
(c) Goodwill on consolidation
Goodwill arising on consolidation represents the excess of the purchase price over the fair value of the
net assets of subsidiary companies at the date of acquisition less proportionate amounts written off for
subsequent disposals of investments in subsidiary companies. It is retained in the consolidated balance
sheet at written down cost. Further write-downs are provided only when the directors are of the opinion
that there is a permanent diminution in value.
(d) Associated companies
The Group treats as associated companies those companies in which a long term equity interest of
between 20% to 50% is held and where the Group is in a position to exercise significant influence
through Board representation.
Premium or discount on acquisition, which is the difference between the purchase consideration for
shares in the associated companies and the share of net assets at the date of acquisition, is not amortised.
However, the premium on acquisition is written down where in the opinion of the directors, there has
been a permanent diminution in value.
The Group’s share of profits less losses of associated companies is included in the consolidated profit
and loss account and the Group’s interest in associated companies is stated at cost plus adjustments to
reflect changes in the Group’s share of the net assets of the associated companies. Where an associated
company’s financial year is not coterminous with that of the Group, the associated company’s results are
equity accounted using the latest audited accounts and supplemented by management accounts up to
the Group’s financial year end.
83
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
2
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(e) Income recognition
(i) Leasing and hire purchase transactions
Income from leasing and hire purchase transactions is recognised on the ‘sum-of-digits’ method over
the term of the lease and hire purchase periods.
(ii) Insurance
Premium income from general insurance business is recognised based upon the issuance of insurance
policies except for premium for treaty business which is recognised based on date of receipt of the
accounts. Premiums in respect of risks incepted for which policies have not been issued as of balance
sheet date are being accrued for. Premium income was recognised net of all reinsurances with
premium income from life insurance business in the previous financial year being recognised as
income when due.
The insurance results are determined after taking full account, inter alia, of unexpired risks and
outstanding claims.
(iii)Development properties
Profit from the sale of development properties is recognised on the ‘percentage of completion’
method. Anticipated losses are recognised immediately in the profit and loss account.
(iv)Dividend income
Dividend income from investments in subsidiary and associated companies is accounted for on the
accrual basis. Income from other investments is accounted for on the receipt basis and, in the case of
an insurance subsidiary, on the basis of the dates dividends are declared by the investee companies.
(v) Brokerage fees and commissions
Income from brokerage is recognised upon execution of contracts while underwriting commission is
recognised upon completion of the corporate exercises concerned.
(vi)Entrance fees
Entrance fees from members joining the resorts and recreation clubs are recognised on the accrual
basis. Where the main facilities are not immediately available for members’ use, only a portion of
the entrance fees calculated in proportion to those facilities available is recognised and the
remaining portion deferred until the main facilities are ready.
(vii) Enrolment fees
80% of the enrolment fees from members joining the vacation club are recognised as income upon
signing of the membership agreement and the remaining 20% is treated as deferred membership
fees which are recognised over the membership period.
(viii)Sale of consumer durables
Sales are recognised upon the delivery of products and revenue from incidental services rendered
are recognised upon its completion. Revenue from hire purchase sales is arrived at after adjusting
for the net increase or decrease in unearned carrying charges calculated on a straight-line basis.
84
Interest income from equal payment scheme is accrued for when sales are made and recognised
when instalment payments are received.
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(e) Income recognition (continued)
(ix)Lottery equipment lease rental
Revenue from the lease of lottery equipment is recognised based on a percentage of gross receipts
from lottery tickets sales, net of taxes.
(f) Currency conversion and translation
Transactions in foreign currencies during the year are converted into Ringgit Malaysia at rates of
exchange approximating those ruling at the transaction dates or at contracted rates, where applicable.
Foreign currency monetary assets and liabilities at the balance sheet date are translated into Ringgit
Malaysia at rates of exchange approximating those ruling at that date or at contracted rates, where
applicable. All exchange gains or losses are dealt with in the profit and loss accounts. The accounts of
foreign subsidiary companies have been translated into Ringgit Malaysia at the rates of exchange ruling
at the balance sheet date. Exchange differences on translation of the net assets of foreign subsidiary
companies are dealt with through an exchange fluctuation reserve.
(g) Investments
Investments in subsidiary, associated companies and other long term investments are stated at cost.
Such investments are only written down when the directors are of the opinion that there is permanent
diminution in their value.
Investment of the unit-linked business were stated at market value. Any increase or decrease in value
of investment was taken to the revenue account.
Malaysian Government Securities and Cagamas Bonds are stated at cost adjusted for amortisation of
premiums and accretion of discounts, where applicable, to their respective maturity dates.
Investments in quoted shares and marketable securities held by the insurance subsidiary companies are
stated at the lower of cost and market value, determined on an aggregate basis.
(h) Investment properties
The Group regards investment properties as land and buildings that are held for their investment
potential and rental income. Investment properties are not depreciated. It is the policy of the Group to
revalue its investment properties every five years or such shorter period as may be considered to be
appropriate, based upon the advice of professional valuers and appraisers.
Surplus arising from revaluation is credited to revaluation reserve at the discretion of the directors.
Deficit in excess of the revaluation reserve arising from previous revaluation is charged to the profit and
loss account.
(i) Development properties
Development properties are stated at cost plus attributable profit less progress billings. Cost includes
land cost, incidental costs of acquisition, development expenditure and capitalised interest costs
relating to the development.
(j) Interest capitalisation
Interest incurred on borrowings related to fixed assets, development properties and investment
properties are capitalised during the period activities to plan, develop and construct the assets are
undertaken. Capitalisation of borrowing costs ceases when the assets are ready for their intended use.
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(k) Leased assets
The cost of assets acquired under finance lease agreements are capitalised. The depreciation policy on
these assets is similar to that of the Group’s other assets as set out in (l) below. Outstanding obligations due
under the lease agreements after deducting finance expenses are included as liabilities in the accounts.
The finance expenses of the lease rentals are charged to the profit and loss accounts over the period of
the respective agreements.
Lease rental incurred on operating leases are charged to the profit and loss accounts in the year they
become payable.
(l) Fixed assets and depreciation
Hotel properties comprise hotel land, building and integral plant and machinery. It is the Group’s practice
to maintain these properties at a high standard and condition such that residual values are at least equal
to book values and consequently, depreciation would be insignificant. Accordingly, no depreciation is
provided on freehold hotel properties or long leasehold hotel properties with unexpired lease tenure of
50 years or more. The related maintenance expenditure is dealt with in the profit and loss account.
To establish whether the residual value of the hotel properties are at least equal to their respective
book values, all hotel properties are appraised by independent professional valuers at least once in
every five years based on open market value. Surplus arising from revaluation is credited to revaluation
reserve at the discretion of the directors. Deficit in excess of the revaluation reserve arising from
previous revaluation is charged to the profit and loss account.
Freehold land, long leasehold land with unexpired lease tenure of 50 years or more, and capital workin-progress are not depreciated. On all other assets, depreciation is provided on a straight-line basis
calculated to write off the cost of each asset over its estimated useful life. The principal annual rates of
depreciation are:
Leasehold land
Buildings
Plant and equipment
Renovation, equipment, furniture and fittings
Motor vehicles
Aircraft, vessels and others
Golf course development expenditure
Over the period of the lease
Over 50 years or the duration of
the lease whichever is shorter
7.5% - 50%
5%
- 50%
10% - 25%
5%
- 25%
1%
- 1.75%
The initial cost of linen, silverware, cutlery and kitchen utensils is capitalised and subsequent
replacements are charged to the profit and loss account as and when incurred.
(m) Stocks
Stocks of raw materials, work-in-progress and finished goods are stated at the lower of cost and net
realisable value. Cost, in the case of work-in-progress and finished goods, comprises raw materials,
direct labour and an attributable proportion of production overheads. Cost is determined on the first-in
first-out, the weighted average cost method, standard cost basis, which approximates actual cost, or by
specific identification.
Stocks of completed houses are stated at the lower of cost and net realisable value. Cost includes the
relevant cost of land, development expenditure and related interest cost incurred during the
development period.
86
Trading account securities comprising quoted investments are stated at the lower of cost and market
value on an aggregate basis.
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(n) Hire purchase debtors
In accordance with trade practice, all hire purchase debtors are classified as current assets irrespective
of when payments are due.
(o) Insurance reserves
Life insurance fund
An actuarial valuation of the life insurance fund was made in accordance with the provision of the
Insurance Act, 1996 at the end of the last financial year. The amount of surplus to be allocated to
shareholders arising from such actuarial valuation was determined by the directors in accordance with
the subsidiary company’s Articles of Association. This amount as determined was recognised in the
previous year’s profit and loss account.
General insurance fund
The reserves for unexpired risks (“RUR”) represent the portion of premium income not yet earned at
the balance sheet date. RUR is calculated as follows :
-
Marine cargo, aviation cargo and inland transit policies.
-
25% of premium written less deductible reinsurances.
Other policies
General Malaysian policies
The 1/24th method is applied to premium written less deductible reinsurances.
Overseas inward treaty policies
The 1/8th method is applied to premium written less deductible reinsurances.
The RUR at balance sheet date is reduced by the corresponding deferred acquisition cost (“DAC”)
based on the method prescribed by Bank Negara Malaysia (“BNM”). The method prescribed by BNM
permits only certain specified reinsurances to be deductible in calculating the RUR and in addition,
restricts the amount of DAC to an amount not exceeding a prescribed percentage of the RUR
calculated on BNM’s basis.
(p) Bad and doubtful debts
All known bad debts are written off while doubtful debts are provided for, based on estimates of
possible losses which may arise from non-collection.
For general insurance sector, a general provision is made on the balance of trade debts exceeding six
months in accordance with the accounting guidelines, BNM GPI/3 issued by Bank Negara Malaysia.
(q) Acquisition costs
Acquisition costs, which are costs directly incurred in securing premiums on insurance policies, net of
income derived from reinsurers in the course of ceding of premiums to reinsurers, are charged to the
revenue accounts in the period in which they are incurred.
(r) Claims
Full provision is made for the estimated cost of all claims together with related expenses less
reinsurance recoveries, in respect of claims notified but not paid at balance sheet date, using the best
available information at that time. Provision is also made for outstanding claims together with related
expenses incurred but not reported at balance sheet date, using a mathematical method of estimation.
87
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(s) Provision for retirement benefits
Retirement benefits for employees under defined benefit plans are provided for based on independent
actuarial valuations. Contributions relating to defined contribution plans are charged to the profit and
loss account when incurred.
Retirement benefits for employees of a foreign subsidiary company are accrued for in accordance with
the provisions of that foreign country’s retirement law.
(t) Deferred taxation
Deferred taxation is provided under the liability method for all material timing differences between
accounting income and taxable income except where there is reasonable evidence that these timing
differences will not reverse in the foreseeable future. Debit balances in the deferred taxation account
are not carried forward except when their realisability is beyond doubt.
(u) Deferred expenditure
Expenditure incurred prior to the date of commencement of operations of subsidiary companies has
been capitalised as deferred expenditure. The expenditure is amortised over a period not exceeding
five years from the date of commencement of operations.
Development expenditure are incurred in respect of software packages and on specific products. These
will be amortised over three years upon completion of individual projects or over eight years upon
commencement of sales of the related products. Development expenditure relating to aborted projects
will be written off.
Deferred expenditure includes cost incurred on the technology and transfer of technical know-how.
The cost are amortised over a period of eight years on a straight-line basis.
Other deferred expenditure consists of expenses incurred in connection with the issue of bonds,
redeemable convertible unsecured loan stocks (“CULS”), irredeemable convertible unsecured loan
stocks (“ICULS”) and secured guaranteed floating rate notes (“FRN”) and are amortised over the
period of the bonds, CULS, ICULS and FRN concerned.
(v) Trademarks and copyrights
Trademarks and copyrights purchased are stated at cost and are written down only when the directors
are of the opinion that there is a permanent diminution in value.
(w) Concession asset
Concession asset represents costs incurred in connection with the New Pantai Highway Project
awarded by the Government for the exclusive rights and authority to design, construct, manage and
operate and maintain the highway. The concession asset will be amortised over the concession period
upon completion of the project and commencement of the collection of toll revenue.
(x) Year 2000 compliance costs
Year 2000 compliance costs are costs specifically associated with modifying existing internal-use
software and hardware for the Year 2000 compliance. Year 2000 compliance costs are recognised as an
expense as and when these costs are incurred except that costs which represent an enhancement of the
existing software and related hardware beyond its originally assessed standard of performance are
capitalised as part of the related asset if such costs can be measured reliably.
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CASH AND BANK BALANCES
Included in cash and bank balances of the Group are cash at bank held under the Housing Development
Account of RM10,215,000 (1998: RM13,303,000) pursuant to Section 7A of the Housing Developers
(Control and Licensing) Act, 1966 and client’s monies held in trust amounting to RM2,375,000 (1998:
RM3,311,000).
4
DEPOSITS WITH FINANCIAL INSTITUTIONS
Group
Deposits with:
Licensed banks
Licensed finance companies
Other financial institutions
1999
RM’000
1998
RM’000
124,975
56,733
13,468
167,358
183,045
9,352
195,176
359,755
Deposits amounting to RM100,750,000 (1998: RM237,880,000) are placed by the insurance subsidiary
companies of the Group and RM18,999,000 (1998: RM1,225,000) are client’s monies held in trust.
5
DEBTORS
Group
Trade debtors
Money lending debtors
Loans receivable
Other debtors, deposits and
prepayments
Deposits and advances paid for
construction and acquisitions of
properties and companies
Tax recoverable
Amounts due from subsidiary companies
Amounts due from associated companies
Sinking fund (Notes)
Leasing debtors
Unearned carrying charges
Hire purchase debtors
Unearned carrying charges
Provision for doubtful debts
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
903,125
94,389
363
873,059
98,819
107,346
258
-
531,226
654,343
66,323
48,052
17,530
312,659
158,890
-
12,403
291,740
267,994
202,367
67,721
3,997,389
1
-
60,569
3,035,715
1
-
22,810
(2,993)
20,225
(1,975)
-
-
19,817
18,250
-
-
652,980
(73,819)
677,670
(104,802)
-
-
579,161
572,868
-
-
2,617,160
(147,950)
3,099,189
(95,344)
4,131,692
(2,114)
3,144,337
(2,114)
2,469,210
3,003,845
4,129,578
3,142,223
Included in loans receivable are amounts totalling RM Nil (1998: RM106,764,000) which are secured by
life insurance policies and mortgages on properties.
Amounts due from subsidiary companies are stated net of provisions of RM9,068,000 (1998: RM9,068,000).
89
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DEBTORS (CONTINUED)
Leasing and hire purchase debtors include amounts which are receivable after twelve months. This treatment
does not comply with International Accounting Standard No. 13 which requires that, under the format in
which the Group’s balance sheet is presented, the non-current portion should be reflected separately.
Notes :
Sinking fund investments as stated in the previous year represent deposits with licensed finance companies.
(a) Under the provisions of the Trust Deed dated 31 January 1994 made by a subsidiary company and the
Trustee for the holders of the 5% Redeemable Unsecured Bonds 1994/1999 (“Bonds”) as disclosed in
Note 10(a) to the accounts, the subsidiary company had established and maintained a sinking fund to
secure the repayment of the full amount of the original Bonds outstanding at maturity date on 10 April
1999. The sinking fund has subsequently been utilised for the full redemption of the outstanding Bonds.
(b) Under the provisions of the Trust Deed dated 15 July 1993 made by a subsidiary company and the
Trustee for the holders of the 5% Redeemable Unsecured Bonds 1993/1998 (“Bonds”) and 6%
Redeemable Convertible Unsecured Loan Stocks 1993/1998 (“CULS”) as disclosed in Note 10(b) and
(c) to the accounts, the subsidiary company had established and maintained a sinking fund to secure
the repayment of the full amount of the original Bonds and CULS outstanding at maturity date on 15
September 1998. The sinking fund has subsequently been utilised for the full redemption of the
outstanding Bonds and CULS.
6
STOCKS
Group
Raw materials
Work-in-progress
Finished goods
Ticket stocks, stores and consumables
Completed houses
Trading account securities
Provision for diminution in value of
trading account securities
1999
RM’000
1998
RM’000
119,104
41,437
528,840
9,163
19,056
30,455
123,165
38,007
527,124
18,094
22,324
98,029
748,055
826,743
(13,500)
(32,000)
734,555
794,743
Trading account securities, which principally represent investment in shares quoted in Malaysia, have a
market value of RM18,094,000 (1998: RM66,737,000) as at 30 April 1999.
As at 30 April 1999, trading account securities with a book value of RM27,933,000 (1998: RM51,553,000)
and market value of RM17,207,000 (1998: RM33,739,000) are pledged to the financial institutions for credit
facilities granted to the subsidiary companies.
90
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DEVELOPMENT PROPERTIES
Group
1999
RM’000
1998
RM’000
Freehold land
Leasehold land
Development expenditure
Interest capitalised
Attributable profits
1,172,218
207,301
560,433
243,719
174,678
1,224,572
178,380
559,876
191,316
166,443
Progress billings
Transfer to stocks
2,358,349
(582,540)
(4,498)
2,320,587
(591,840)
(1,022)
1,771,311
1,727,725
Properties costing RM981,698,000 (1998: RM1,090,197,000) have been pledged to financial institutions for
credit facilities granted to subsidiary companies.
8
CREDITORS
Group
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
592,005
1,220,727
444,971
1,397,264
7,052
29,027
15,006
62,150
50
150,115
407
2,803,327
8
1,634,202
2
Unsecured
Trade creditors
Other creditors and accruals
Amount payable for acquisition of
- subsidiary company
- properties
Amounts due to subsidiary companies
Amounts due to associated companies
Secured
Block discounting creditors
- portion repayable within 12 months (Note 20)
Unexpired interest
Hire purchase and leasing creditors (Note 20)
Floating Rate Notes (Note 20)
25,164
(3,958)
29,083
(5,659)
-
-
21,206
23,424
-
-
52,834
285,000
50,701
-
491
-
554
-
2,248,978
2,066,882
2,810,878
1,663,785
Included in other creditors and accruals of life insurance business is an amount to be transferred to
shareholders’ funds of RM Nil (1998: RM24,742,000).
The amounts due to subsidiary companies are unsecured, interest bearing and have no fixed terms of
repayment.
The amount in respect of block discounting creditors is secured by assignment of the rights under leasing
and hire purchase agreements.
Included in other creditors and accruals is an amount of RM153,448,000 (1998: RM305,996,000) being
margin facilities obtained by the Group.
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SHORT TERM BORROWINGS
1999
RM’000
Group
1998
RM’000
Company
1999
1998
RM’000
RM’000
107,699
508,235
421,906
424,695
30,277
383,113
717,025
395,591
598,890
204,763
25
59,188
165,229
-
50
133,651
174,379
-
1,492,812
2,299,382
224,442
308,080
2,150
92,026
9,000
106,753
1,450
109,606
4,000
124,288
-
-
209,929
239,344
-
-
1,702,741
2,538,726
224,442
308,080
Secured
Long term loans
- portion repayable within
12 months (Note 19)
Short term loans
Bank overdrafts
Revolving credits
Trade financing facilities
Unsecured
Long term loans
- portion repayable within
12 months (Note 19)
Bank overdrafts
Revolving credits
Trade financing facilities
The secured bank overdrafts, revolving credits, short term loans and trade financing facilities are secured by
way of fixed charges on certain landed properties of the Group, certain quoted investments of the Group
and the Company, or fixed and floating charges over the other assets of certain subsidiary companies.
The borrowings bear interest at rates ranging from 1% to 2.75% (1998: 1% to 4%) per annum above the
financial institutions’ applicable lending rates for the Group and from 1% to 2% (1998: 1% to 2%) per
annum above the financial institutions’ applicable lending rates for the Company.
10
BONDS AND CONVERTIBLE UNSECURED LOAN STOCKS
Group
1999
RM’000
1998
RM’000
-
147,749
-
73,598
-
13,709
-
235,056
Unsecured
5% Redeemable Unsecured Bonds 1994/1999 with
Detachable Warrants (Note a)
5% Redeemable Unsecured Bonds 1993/1998 with
Detachable Transferable Subscription Rights (Note b)
6% Redeemable Convertible Unsecured Loan Stocks
1993/1998 (Note c)
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BONDS AND CONVERTIBLE UNSECURED LOAN STOCKS (CONTINUED)
Notes:
(a) 5% Redeemable Unsecured Bonds 1994/1999 with Detachable Warrants
The 5% Redeemable Unsecured Bonds 1994/1999 (“Bonds”) at nominal value of RM1.00 each are
constituted by a Trust Deed dated 31 January 1994 made by a subsidiary company, Berjaya Land
Berhad and the Trustee for the holders of the Bonds. Interest on the Bonds is payable semi-annually in
arrears. The Bonds matured on 10 April 1999 and was fully redeemed subsequently by utilisation of the
sinking fund as disclosed in Note 5(a) to the accounts.
The Warrants, which were quoted on the Kuala Lumpur Stock Exchange, are constituted by a Deed Poll
dated 31 January 1994 made by the subsidiary company and the Trustee for holders of the Warrants.
Each Warrant will entitle its registered holders to subscribe for one ordinary share of RM1.00 each in
the subsidiary company at a subscription price of RM3.60 per share. Pursuant to the issue of the Berjaya
Land Berhad 6% Irredeemable Convertible Unsecured Loan Stocks 1996/2001, the subscription price
was adjusted to RM3.11 per share as provided in the Deed Poll. As at 10 April 1999, the rights attached
to the remaining unexercised Warrants, amounting to 18,434,553 units, have also expired.
(b) 5% Redeemable Unsecured Bonds 1993/1998 with Detachable Transferable Subscription Rights
The 5% Redeemable Unsecured Bonds 1993/1998 (“Bonds”) at nominal value of RM1.00 each are
constituted by a Trust Deed dated 15 July 1993 made by a subsidiary company, Cosway Corporation
Berhad, and the Trustee for holders of the Bonds. Interest on the Bonds is payable semi-annually in
arrears. The Bonds matured on 15 September 1998 and was fully redeemed subsequently by utilisation
of the sinking fund as disclosed in Note 5(b) to the accounts.
The Transferable Subscription Rights (“TSRs”), which are quoted on the Kuala Lumpur Stock
Exchange, are constituted by a Deed Poll dated 15 July 1993 made by the subsidiary company and the
Trustee for holders of the TSRs. Each TSR will entitle its registered holders to subscribe for one
ordinary share of RM1.00 each in the subsidiary company at a subscription price of RM4.70 per share.
Pursuant to the issue of the Cosway Corporation Berhad’s Rights and Special Issue, the subscription
price was adjusted to RM4.25 per share as provided in the Deed Poll. As at 15 September 1998, the
unexercised TSRs, amounting to 47,148,534 units, have also expired and ceased to be exercisable.
(c) 6% Redeemable Convertible Unsecured Loan Stocks 1993/1998
The 6% Redeemable Convertible Unsecured Loan Stocks 1993/1998 (“CULS”) at nominal value of
RM1.00 each are constituted by a Trust Deed dated 15 July 1993 made by a subsidiary company,
Cosway Corporation Berhad, and the Trustee for holders of the CULS. Interest on the CULS is
payable semi-annually in arrears. The CULS matured on 15 September 1998.
The registered CULS holders will be entitled to convert the CULS into ordinary shares of the
subsidiary company at a conversion price of RM4.70 per share on the basis of RM1.00 nominal amount
of CULS together with an additional cash of RM3.70 during the 5-year exercise period. Pursuant to the
issue of the Cosway Corporation Berhad’s Rights and Special Issue, the conversion price was adjusted
to RM4.25 per share as provided in the Deed Poll. As at 15 September 1998, the unconverted
CULS, amounting to 13,599,245 units, was redeemed by utilisation of the sinking fund as disclosed in
Note 5(b) to the accounts.
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L O N G T E R M R E C E I VA B L E S
Included in long term receivables are amounts totalling RM Nil (1998: RM101,656,000) which are secured
by life insurance policies and mortgages on properties.
12
FIXED ASSETS
Group
Valuation/Cost
At Valuation
Freehold land
and buildings
Long leasehold
hotel properties
Long leasehold land
and buildings
Short leasehold land
and buildings
WriteAcquisiback/
Reclassi- tion of
At
(Write- fication/
subsi1.5.98 Additions Disposals
off)
Transfers diaries
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
16,950
-
242,959
404
256,274
206 (11,268) (17,586)
187
-
Disposal/
deconsolidation
of subsidiaries
RM’000
Foreign
currency
translations
RM’000
At
30.4.99
RM’000
-
-
54,036
11
-
-
70,997
(6)
-
-
-
-
-
243,357
-
-
-
753
228,379
-
-
-
-
-
187
-
3,729
-
-
-
-
-
(944)
-
-
- (20,748)
-
-
3,082
338,702
62,086
23,191
-
3,329
68,665
512,195
-
At Cost
Freehold land
and buildings
Freehold hotel
properties
Long leasehold hotel
properties
Long leasehold land
and buildings
and buildings
Plant and equipment
Renovation,
equipment
furniture and
fittings
Motor vehicles
Aircraft, vessels
and others
Golf course
development
and expenditure
Capital work-inprogress
496,017
25,780 (30,903)
192,292
-
(364)
-
257,528
75
(30)
-
314,212
44,982
(2,826)
3,759
414,380
1,102
57,232
(6,099)
1,718
(8,928) 29,090
417,833
85,682
51,576
4,397
(5,580)
(5,590)
(1,963)
(241)
62,138
245
(142)
65,853
-
185,369 187,394
(7,935)
(19,909)
(1,496)
-
1,956
-
(1)
-
-
-
- (62,503)
3,011,433 373,393 (70,743) (28,718)
94
(1,176) 41,631
(1,987) 2,608
3,171 129,527
(6,772) 487,851
188
192,116
(1,966) 254,663
454 482,866
(382) 82,991
606
64,802
-
-
65,853
-
198
302,523
(21,406)
(510) 3,396,147
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
12
FIXED ASSETS (CONTINUED)
At
1.5.98
Accumulated Depreciation RM’000
At Valuation
Freehold land
and buildings
Long leasehold land
and buildings
and buildings
WriteDisposal/
back/
Acquisi- deconso- Foreign
Charge
down
Reclassi- tion of
lidation currency
for the
(Write- fication/
subsiof subsi- translayear
Disposals
off)
Transfers diaries
diaries
tions
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
3,749
306
19,710
4,519
75
5
(1,491)
-
(3,701)
-
At
30.4.99
RM’000
1,348
-
-
-
5,403
71
-
-
104
19,212
-
-
-
-
80
At Cost
Freehold land
and buildings
31,546
Long leasehold land
and buildings
29,502
and buildings
319
Plant and equipment 176,605
Renovation,
equipment,
furniture
and fittings
208,894
Motor vehicles
50,536
Aircraft, vessels
and others
19,610
Golf course
development
expenditure
2,570
Capital workin-progress
-
9,262
(792)
8,543
(380)
-
-
(171)
48,008
14,666
(58)
46
(1,010)
243
-
214
43,603
1,182
56,321
(3,505)
(221)
646
(49)
1,283
2,169
-
815
3,430
232,135
49,927
12,291
(2,737)
(3,843)
(1,786)
(184)
4,290
(107)
(573) 11,491
(1,564) 1,342
(8,445)
(912)
(130) 256,641
(201) 57,465
-
1,511
-
-
184
25,488
784
-
-
-
-
-
-
3,354
-
-
-
-
-
-
-
-
2,697
-
16,528
815
694,819
543,116 153,553 (12,533)
(9,357)
At
30.4.99
RM’000
Net Book Value
At Valuation
Freehold land and buildings
Long leasehold hotel properties
Long leasehold land and buildings
Short leasehold land and buildings
65,594
243,357
209,167
107
At Cost
Freehold hotel properties
Plant and equipment
Motor vehicles
Aircrafts, vessels and others
Capital work-in-progress
439,843
192,116
254,663
295,099
65,235
280,060
226,225
25,526
39,314
62,499
302,523
2,701,328
95
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
12
Group
Valuation/Cost
At Valuation
Freehold land
and buildings
Long leasehold
hotel properties
Long leasehold land
and buildings
and buildings
WriteAcquisiback/
Reclassi- tion of
At
(Write- fication/
subsi1.5.97 Additions Disposals
off)
Transfers diaries
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
421
31
236,118
6,754
67,563
1,018
187
-
-
Disposal/
deconsolidation
of subsidiaries
RM’000
Foreign
currency
translations
RM’000
At
30.4.98
RM’000
-
(393) 16,891
-
-
16,950
(147)
-
(120)
-
354
242,959
(7,155)
-
- 198,936
-
-
-
(2,572) 31,918
39,135
-
-
(2,2,38) (1,850) 256,274
-
-
187
(17,874) 67,220
496,017
At Cost
Freehold land
and buildings
Freehold hotel
properties
Long leasehold
hotel properties
Long leasehold land
and buildings
and buildings
Plant and equipment
Renovation,
equipment,
furniture
and fittings
Motor vehicles
Aircraft, vessels
and others
Golf course
development
and expenditure
Capital
work-in-progress
343,608
46,224 (11,642)
125,000
-
-
-
12,245
1,333
-
53,714
192,292
229,836
2,078
-
-
3,707
-
-
21,907
257,528
278,797
10,265
(314)
(2,355) 47,704
6,528
(49,217) 22,804
314,212
1,486
239,347
49,754
(6,755)
(164)
1,542
(1,775) 173,268
731
(72,272) 32,977
3,759
414,380
341,692
78,002
52,506 (12,154)
13,725 (9,024)
(1,274)
(30)
1,500 20,742
(273) 7,678
(11,701) 26,522
(5,446) 1,050
417,833
85,682
108,944
930 (64,088)
64,779
1,074
107,161 168,118
(204)
2,222,941 352,477 (111,483)
96
7,322
-
(733)
-
- (100,968)
927
3,421
-
6,342
62,138
-
-
-
65,853
342
-
10,920
185,369
(7,188) 469,816 (158,748) 242,691 3,011,433
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
12
At
1.5.97
Accumulated Depreciation RM’000
At Valuation
Freehold land
and buildings
Long leasehold land
and buildings
and buildings
WriteAcquisiCharge
back/
Reclassi- tion of
for the
(Write- fication/
subsiyear
Disposals
off)
Transfers diaries
RM’000 RM’000 RM’000 RM’000 RM’000
86
246
-
(392)
-
3,809
1,902
1,697
-
(1,329)
-
18,109
71
4
-
-
-
-
2,066
-
3,360
-
861
Disposal/
deconsolidation
of subsidiaries
RM’000
(411)
-
Foreign
currency
translations
RM’000
(258)
At
30.4.98
RM’000
3,749
19,710
-
75
(1,264)
4,612
31,546
(12,670)
4,110
29,502
72
(18,837) 11,155
319
176,605
At Cost
Freehold land
and buildings
15,557
Long leasehold land
and buildings
28,522
and buildings
132
Plant and equipment 71,383
Renovation,
equipment,
furniture
and fittings
153,059
Motor vehicles
41,126
Aircraft, vessels
and others
20,822
Golf course
development
expenditure
1,763
Capital workin-progress
-
7,588
(373)
9,322
(45)
69
36,765
(5,226)
1,170
44,726
13,442
(3,212)
(5,809)
(1,440)
(249)
6,136 (11,246)
(598)
46
(797) 80,992
159
300
13,043
4,514
1
337
1,554
(5,813)
(3,555)
8,372
767
208,894
50,536
-
2,006
19,610
806
-
-
1
-
-
-
2,570
-
-
-
-
-
-
-
-
(42,550) 30,836
543,116
334,423 120,801 (25,911)
(771)
- 126,288
At
30.4.98
RM’000
Net Book Value
At Valuation
13,201
242,959
236,564
112
At Cost
Freehold hotel properties
Plant and equipment
Motor vehicles
Aircrafts, vessels and others
Capital work-in-progress
464,471
192,292
257,528
284,710
3,440
237,775
208,939
35,146
42,528
63,283
185,369
2,468,317
97
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
12
Company
Cost
Motor vehicles
At 1.5.98
RM’000
Additions
RM’000
Disposals
RM’000
At 30.4.99
RM’000
5,076
5,553
199
39
68
203
5,207
5,389
10,629
238
271
10,596
2,308
3,191
644
856
36
171
2,916
3,876
5,499
1,500
207
6,792
Accumulated Depreciation
Motor vehicles
At 30.4.99
RM’000
Net Book Value
Motor vehicles
2,291
1,513
3,804
Company
Cost
Motor vehicles
At 1.5.97
RM’000
Additions
RM’000
Disposals
RM’000
At 30.4.98
RM’000
4,445
4,709
660
1,007
29
163
5,076
5,553
9,154
1,667
192
10,629
1,661
2,417
654
933
7
159
2,308
3,191
4,078
1,587
166
5,499
Accumulated Depreciation
Motor vehicles
At 30.4.98
RM’000
Net Book Value
Motor vehicles
2,768
2,362
5,130
Long leasehold land comprises leasehold interests with an unexpired term in excess of 50 years.
Long leasehold land and buildings and long leasehold hotel properties of the Group stated at valuations
were revalued in 1992 by the directors based on valuations carried out by professional valuers. As allowed
by the transitional provisions of International Accounting Standard 16 (Revised), Property, Plant and
Equipment, issued by the Malaysian Accounting Standards Board, these assets have continued to be stated
at their prior years’ valuations. In 1996, the hotel properties with a net book value of RM466,046,000 at 30
April 1996 were appraised by firms of professional valuers giving a valuation of RM526,689,000 based on
open market value basis which resulted in a revaluation surplus of RM60,643,000. As a matter of prudence,
the directors did not recommend for the surplus to be incorporated in the accounts.
98
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
12
The cost of fixed assets acquired under finance leases and hire purchase agreements amounted to
RM125,119,000 (1998: RM132,745,000) for the Group and RM2,842,000 (1998: RM4,333,000) for the Company.
Included in the cost of capital work-in-progress is interest capitalised amounting to RM4,138,000 (1998:
RM1,827,000).
Properties and aircraft costing RM1,085,938,000 (1998: RM1,044,218,000) have been pledged to financial
institutions for facilities granted to subsidiary companies.
The depreciation of fixed assets of the Group as disclosed in Note 26 includes depreciation charge of RM
Nil (1998: RM1,127,000) relating to subsidiary companies disposed of during the year.
The depreciation charge of the Group for the year includes:(i) RM592,000 (1998: RM348,000) capitalised as part of deferred expenditure by a subsidiary company;
(ii) RM Nil (1998: RM2,264,000) attributable to the life assurance subsidiary company which is included as
part of the life assurance revenue account; and
(iii) RM Nil (1998: RM3,868,000) in respect of depreciation charge by certain subsidiary companies before
they became members of the Group.
13
OTHER INVESTMENTS
Group
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
429,238
6,895
6,152
498,283
19,994
20,000
7,444
-
-
52,814
51,542
-
-
Malaysian Government Securities
Malaysian Government Guaranteed loan
Unquoted shares
Unquoted guaranteed bonds
Treasury bills
Debentures in unquoted corporations
Loan stocks in unquoted corporations
Golf clubs corporate memberships
495,099
46,746
3,000
143,028
9,768
1,000
6,911
775
597,263
237,793
4,594
129,393
171,289
43,738
1,000
6,911
880
42,354
6,461
-
49,667
6,461
-
Provision for diminution in value
706,327
(59,149)
1,192,861
(68,921)
48,815
(5,850)
56,128
-
647,178
1,123,940
42,965
56,128
167,354
5,050
4,878
15,508
48,144
246,067
18,191
17,318
4,506
63,054
228,020
-
-
Quoted investments in Malaysia
- shares
- unsecured loan stocks
- unit trust
- TSR, options
Quoted investments outside Malaysia
- shares
Market value:
Quoted investments in Malaysia
- shares
- unsecured loan stocks
- unit trust
- TSR, options
Quoted shares outside Malaysia
Malaysian Government Securities
99
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
13
OTHER INVESTMENTS (CONTINUED)
Investments with a total book value of RM137,287,000 (1998: RM695,332,000) are held by the insurance
subsidiary companies of the Group.
As at 30 April 1999, investment in quoted shares in Malaysia with a book value of RM141,465,000 (1998:
RM73,952,000) and market value of RM55,588,000 (1998: RM16,617,000) are pledged to the financial
institutions for credit facilities granted to a subsidiary company.
Provision for diminution in value of certain quoted investments have not been made as the directors are
of the opinion that the diminution is not permanent in nature.
14
INVESTMENT PROPERTIES
Group
- at valuation
- at cost
Leasehold land and buildings
- at cost
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
282,166
272,918
281,577
341,423
-
-
27,466
40,530
3,409
3,409
582,550
663,530
3,409
3,409
The freehold land and buildings were revalued by the directors on 22 May 1990 based on independent
professional valuations. In 1996, the investment properties with a net book value of RM362,124,000 at 30
April 1996 were re-appraised to give a valuation of RM553,490,000 based on open market value on
an existing use basis by independent firms of professional valuers which resulted in a revaluation
surplus of RM191,366,000. As a matter of prudence, the directors did not recommend that the surplus be
incorporated in the accounts.
Investment properties at cost or valuation amounting to RM358,517,000 (1998: RM335,808,000) have
been pledged to financial institutions for credit facilities granted to subsidiary companies.
Included in the cost of the freehold land and buildings is interest capitalised during the development
period of RM10,691,000 (1998: RM8,946,000).
15
CONCESSION ASSET
Group
1999
RM’000
1998
RM’000
Included in the concession asset are:
Interest received
Directors’ fees
Directors’ remuneration
Rental of premises
Depreciation
Hire purchase interest
Interest on short term loan
100
(5)
250
377
226
137
30
8,316
-
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
16
A S S O C I AT E D C O M PA N I E S
Group
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
Quoted shares - outside Malaysia
Unquoted shares
Group’s share of post acquisition reserves
64,755
420,018
(21,391)
187,560
447,435
(63,270)
46,799
-
46,545
-
463,382
(37,936)
571,725
(75,215)
46,799
-
46,545
-
425,446
496,510
46,799
46,545
23,332
36,909
-
-
Market value :
Quoted shares - outside Malaysia
The Group’s interest in the associated companies is represented by:
Share of net assets
Premium on acquisition
304,125
121,321
301,354
195,156
425,446
496,510
Provision for diminution in value of certain investment in quoted shares outside Malaysia has not been
made as the directors are of the opinion that the diminution is not permanent in nature.
The Group’s equity interest in the associated companies, their respective principal activities and countries
of incorporation are shown in Note 36.
17
S U B S I D I A RY C O M PA N I E S
Group
Unconsolidated subsidiary company
Unquoted shares at cost
Quoted shares at cost
Market value of quoted shares
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
346,532
(346,532)
346,539
(231,028)
1,299,021
(203,234)
1,171,298
(203,234)
-
115,511
-
1,095,787
239,630
968,064
245,554
-
115,511
1,335,417
1,213,618
-
-
383,397
314,300
The results of operations and net assets of Roasters Corp., a company incorporated in Florida, U.S.A, of
which the Group has 73.5% equity interest, has not been consolidated because the company has been
placed under voluntary reorganisation pursuant to Chapter 11 Reorganisation Protection in the United
States Federal Court (“US Federal Court”) in which the Group has lost its management control over the
affairs of the company during the previous financial year.
101
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
17
S U B S I D I A RY C O M PA N I E S ( C O N T I N U E D )
A scheme of arrangement (“Nathan’s plan”) was confirmed by the US Federal Court during the financial
year. Under Nathan’s plan, Roasters Asia Pacific (HK) Limited, a wholly owned subsidiary company of the
Group, will continue to operate as master franchisor for the Asia Pacific region and favourable terms of
franchise fee and royalty are awarded for its future operations under the revised Master Development
Agreement. However, the Group in return, will waive its rights to any existing outstanding debt and
release any lien and security interest against Roasters Corp.
The Group’s equity interests in the subsidiary companies, their respective principal activities and countries
of incorporation are shown in Note 36.
18
INTANGIBLE ASSETS
Group
Goodwill arising on consolidation
Trademarks and copyrights
Deferred expenditure
19
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
2,449,297
98,853
102,713
2,670,024
69,466
72,874
-
587
2,650,863
2,812,364
-
587
LONG TERM BORROWINGS
Group
1999
RM’000
1998
RM’000
1,935,017
1,892,737
Company
1999
1998
RM’000
RM’000
Secured
Term loans
Portion repayable within 12 months included
under short term borrowings (Note 9)
Revolving credits
(107,699)
(383,113)
25
75
(25)
(50)
1,827,318
1,163,097
1,509,624
1,033,870
-
25
-
2,990,415
2,543,494
-
25
202,175
205,535
-
-
-
-
Unsecured
Term loans
Portion repayable within 12 months included
under short term borrowings (Note 9)
Revolving credits
(2,150)
(1,450)
200,025
96,500
204,085
108,200
-
-
296,525
312,285
-
-
3,286,940
2,855,779
-
25
The secured borrowings are secured on quoted and unquoted shares held by the Group and the Company
or fixed and floating charges over the assets of certain subsidiary companies.
The term loans are repayable over a period not exceeding five years and bear interest at rates which vary
according to the respective financial institutions’ prevailing applicable lending rates ranging from 1% to
2.75% (1998: 1% to 4%) per annum.
102
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
20
OTHER LONG TERM LIABILITIES
Group
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
52,423
76,302
-
-
(25,164)
(29,083)
-
-
27,259
(3,374)
47,219
(6,100)
-
-
23,885
41,119
-
-
149,915
146,605
696
1,235
(52,834)
(50,701)
(491)
(554)
97,081
95,904
205
681
562,400
560,700
-
-
-
-
-
277,400
560,700
-
-
398,366
697,723
205
681
28,470
3,443
50,875
54,086
26,093
19,545
53,501
51,454
-
-
136,874
150,593
-
-
535,240
848,316
205
681
Secured
Block discounting creditors (Note a)
Portion repayable within 12 months
included under creditors (Note 8)
Unexpired carrying charges
Hire purchase and leasing creditors
Floating Rate Notes (Note b)
(285,000)
Unsecured
Agency deposits
Provision for retirement benefits
Club members’ deposits (Note c)
Deferred income
Notes:
(a) The amount in respect of block discounting creditors and hire purchase and leasing creditors are
secured by corporate guarantee of the subsidiary companies and assignment of the rights under leasing
and hire purchase agreements.
(b) The Floating Rate Notes (“FRN”) at nominal value of USD250,000 each are constituted by a Trust
Deed dated 6 May 1997, made by a subsidiary company, Berjaya Group Capital (Cayman) Limited
(“Issuer”) and the Trustee for the holders of the FRN. The interest rate is 1.4 per cent plus the London
interbank offer rate, on the Interest Determination Date. Interest on the FRN is payable quarterly in
arrears. The FRN is secured against quoted investments of the Group and guaranteed by the Company.
During the financial year, certain terms of the FRN have been amended to facilitate an early
redemption of the FRN by the Issuer. The redemption terms have been amended to allow the Issuer
to redeem at least half of the FRN by end of December 1999 and the outstanding balance by end of
December 2000. In connection to the aforesaid amendment, the interest rate shall be at 2.5 per cent
plus the London interbank offer rate with effect from 18 December 1998.
103
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
20
OTHER LONG TERM LIABILITIES (CONTINUED)
(c) Club members’ deposits represent amounts paid by members to certain subsidiary companies for
membership licences issued to use and enjoy the facilities of the subsidiary companies’ recreational
clubs. The monies are refundable to the members at their request upon expiry of prescribed terms from
the dates of issuance of the licences.
21
SHARE CAPITAL
Group and Company
1999
1998
RM’000
RM’000
Ordinary shares of RM1.00 each
Authorised
At 1 May
Created during the year
2,000,000
3,000,000
2,000,000
-
At 30 April
5,000,000
2,000,000
At 1 May
Issued during the year from conversion of ICULS
Staff Share Options exercised
1,215,762
61,167
-
877,214
337,777
771
At 30 April
1,276,929
1,215,762
Issued and fully paid
22
RESERVES
1999
RM’000
Group
1998
RM’000
Company
1999
1998
RM’000
RM’000
733,753
147,598
43,264
672,618
149,329
60,779
733,753
-
672,618
-
441,986
541,686
477,596
475,717
1,366,601
1,424,412
1,211,349
1,148,335
Non distributable
Share premium
Capital reserves
Foreign currency translation reserve
Distributable
Profit and loss account
Group
Foreign
currency
translation
Capital
reserve
reserves
RM’000
RM’000
Group and
Company
Share
premium
RM’000
Movement in reserves
At beginning of the financial year
Exchange difference on translation
of net assets of foreign subsidiary companies
and associated companies
Reserves on acquisition of shares in subsidiary
companies
Share premium arising from
issuance of new shares
Share issue expenses
Transfer from/(to) profit and loss account
104
At end of the financial year
60,779
(19,586)
2,071
43,264
149,329
672,618
-
-
3,993
-
(5,724)
147,598
61,167
(32)
733,753
Notes
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RESERVES (CONTINUED)
Transfer to profit and loss account represents the realisation of reserves on disposal and dilution of
subsidiary companies and associated companies.
Subject to the agreement of the Inland Revenue Board, the Company has sufficient tax credit under
Section 108 of the Income Tax Act 1967 and tax exempt income under the Income Tax (Amendment) Act,
1999 to frank the payment of dividend of RM62,504,000 out of its retained profits as dividends in future.
Should the entire retained profits be franked as dividends, the Company will have a Section 108 charge of
approximately RM116,226,000.
23
IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS
Group
6% Irredeemable Convertible Unsecured Loan
Stocks March 1996/2001 (Note a)
Stocks December 1996/2001 (Note b)
Stocks June 1997/2002 (Note c)
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
7,934
8,000
-
-
-
122,334
-
122,334
10,358
10,365
-
-
18,292
140,699
-
122,334
Notes
(a) 6% Irredeemable Convertible Unsecured Loan Stocks March 1996/2001
The 6% Irredeemable Convertible Unsecured Loan Stocks 1996/2001 (“BLB ICULS”) at nominal
value of RM1.00 each were constituted by a Trust Deed dated 17 January 1996 made by a subsidiary
company, Berjaya Land Berhad and the Trustee for the holders of the BLB ICULS. The main features
of the ICULS were as follows:• The BLB ICULS shall be convertible into fully paid ordinary shares of the subsidiary company
during the period from 27 March 1996 to the maturity date at 26 March 2001 at the rate of RM2.35
nominal value of BLB ICULS or at the rate of RM2.00 nominal value of the BLB ICULS and
RM0.35 in cash for one fully paid ordinary share of RM1.00 each.
• Upon conversion of the BLB ICULS into new ordinary shares, such shares should rank pari passu in
all respects with the ordinary shares of the subsidiary company in issue at the time of conversion
except that they would not be entitled to any dividend or other distributions declared in respect of a
financial period prior to the financial period in which the BLB ICULS are converted or any interim
dividend declared prior to the date of conversion of the BLB ICULS.
• The interest on the BLB ICULS is payable semi-annually in arrears.
As at 30 April 1999, the Group did not hold any unit of BLB ICULS.
(b) 6% Irredeemable Convertible Unsecured Loan Stocks December 1996/2001
The Company’s 6% Irredeemable Convertible Unsecured Loan Stocks 1996/2001 (“BGB ICULS”) at
nominal value of RM1.00 each were constituted by a Trust Deed dated 11 October 1996 made
between the Company and the Trustee for the holders of the BGB ICULS. The main features of the
BGB ICULS were as follows:• The BGB ICULS shall be convertible into fully paid ordinary shares of the Company during the
period from 17 December 1996 to the maturity date at 16 December 2001 at the rate of RM2.00
nominal value of BGB ICULS for one fully paid ordinary share of RM1.00 each.
105
Notes
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IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS (CONTINUED)
(b) 6% Irredeemable Convertible Unsecured Loan Stocks December 1996/2001 (continued)
• Upon conversion of the BGB ICULS into new ordinary shares, such shares should rank pari passu in
all respects with the ordinary shares of the Company in issue at the time of conversion except that
they would not be entitled to any dividend or other distributions declared in respect of a financial
period prior to the financial period in which the BGB ICULS are converted or any interim dividend
declared prior to the date of conversion of the BGB ICULS.
• The interest on the BGB ICULS is payable semi-annually in arrears.
During the financial year, all the remaining BGB ICULS of approximately 122.334 million were
converted into approximately 61.167 million new ordinary shares of the Company at the conversion
price of RM1.00 per new ordinar share for every RM2.00 nominal amount of BGB ICULS.
(c) 5% Irredeemable Convertible Unsecured Loan Stocks June 1997/2002
The 5% Irredeemable Convertible Unsecured Loan Stocks 1997/2002 (“DBM ICULS”) at nominal
value of RM1.00 each were constituted by a Trust Deed dated 28 April 1997 made by a subsidiary
company, Dunham-Bush (Malaysia) Bhd and the Trustee for the holders of the DBM ICULS. The
main features of the DBM ICULS were as follows:• The DBM ICULS shall be convertible into fully paid ordinary shares of the subsidiary company
during the period from 18 June 1997 to the maturity date at 17 June 2002 at the rate of RM13.80
nominal value of DBM ICULS or at the rate of RM1.00 nominal value of the DBM ICULS and
RM12.80 in cash for one fully paid ordinary share of RM1.00 each.
• Upon conversion of the DBM ICULS into new ordinary shares, such shares should rank pari passu
in all respects with the ordinary shares of the subsidiary company in issue at the time of conversion
except that they would not be entitled to any dividend or other distributions declared in respect of a
financial period prior to the financial period in which the DBM ICULS are converted or any interim
dividend declared prior to the date of conversion of the DBM ICULS.
• The interest on the DBM ICULS is payable semi-annually in arrears.
As at 30 April 1999, the Group holds 11,641,242 (1998: 11,634,242) units with a market value of RM12,356,000
(1998: RM5,817,000) and these have been eliminated against the total DBM ICULS outstanding.
24
INSURANCE RESERVES
Group
General insurance fund
Life insurance fund
106
1999
RM’000
1998
RM’000
41,770
-
44,508
911,461
41,770
955,969
Notes
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TURNOVER
Turnover (including share of associated companies’ turnover as disclosed in Note 30) for the Group
represents the invoiced value of sales of the Group’s products and services, progress billings on sale of
properties, lease rentals, rental of properties, interest income from hire purchase and loan financing, gross
insurance premiums, gross stake collections from the sale of Toto betting tickets and brokerage and
underwriting commission on securities contracts and new issue of shares.
Turnover of the Company represents gross dividends from subsidiary companies, associated companies and other
investments, management fees receivable from subsidiary companies and share administration fee income.
Information on cost of sales has not been disclosed as required by International Accounting Standard No. 2,
Inventories. Due to the diversified nature of the Group, the directors are of the opinion that such
disclosure would be of little value to the users of the accounts.
26
PROFIT BEFORE TAXATION
1999
RM’000
Group
1998
RM’000
Company
1999
1998
RM’000
RM’000
28,850
1,038
4,049
152,961
2,818
52,665
10,998
563,237
26,050
64,644
45,898
64,759
-
30,711
2,159
4,309
115,448
4,125
57,575
8,751
500,495
20,840
64,943
49,215
46,956
1,489
61,474
2,192
36
77
1,499
367
31,723
284,026
587
2,703
-
3,103
36
82
1,587
441
63,862
163,485
145
-
110,568
45,449
-
-
6,443
21,052
-
-
22,015
74,254
5,850
-
74,723
-
-
-
-
3,246
22,502
2,327
12,236
Profit before taxation is arrived at after charging:
Directors’ remuneration (Note)
- emoluments
- fees
Auditors’ remuneration
Depreciation of fixed assets
Hire of plant and machinery
Rental of land and buildings
Rental of operating lease
Interest expense
Interest payable to subsidiary companies
Amortisation of intangible assets
Toto betting royalty
Contribution to National Sports Council
Bad and doubtful debts
Loss on disposal of associated companies
Loss on disposal of other investments
investments in subsidiary companies
investments in associated companies
Provision for diminution in
value of other investments
Provision for amounts due from
a subsidiary company
Provision for loss on discontinuance
of business
Provision for loss on exchange
107
Notes
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PROFIT BEFORE TAXATION (CONTINUED)
1999
RM’000
Group
1998
RM’000
Company
1999
1998
RM’000
RM’000
3,455
421
62,436
9,928
4,238
533,674
7,931
1,976
13,942
3,956
8,112
63
82,557
10,480
32,808
382,029
17,904
-
19,170
10,973
40
421
349,313
1,627
34
31
2,673
-
31,921
31,935
209,716
4,335
16
90
12,231
15,504
-
-
10,469
-
2,550
-
and crediting:
Gross dividends from
- subsidiary companies quoted in Malaysia
- unquoted subsidiary companies
- investments quoted in Malaysia
- unquoted investments
Interest receivable from subsidiary companies
Other interest income
Income from rental of land and buildings
Gain on disposal of fixed assets
Gain on disposal of subsidiary companies
Gain on disposal of associated companies
Gain on disposal of investments
Gain on disposal of properties (net of tax)
Gain on foreign exchange
Write back of provision for diminution
in value of subsidiary companies
Forfeiture of deposit for disposal of investments
and including the Group’s share of results of associated companies :Group
1999
RM’000
Share of profits less losses before taxation
Less: Attributable holding costs
1998
RM’000
(21,464)
(30,883)
10,556
(103,908)
(52,347)
(93,352)
Note:
The estimated money value of benefits-in-kind received by the directors was RM421,000 (1998: RM364,000)
for the Group and RM184,000 (1998: RM196,000) for the Company.
27
TAXATION
Group
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
(25,589)
6,302
1,948
1,849
132,428
474
2,538
(30,855)
(49)
18,650
(9,147)
(15,490)
104,585
(49)
9,503
In Malaysia:
Current taxation
Deferred taxation
Associated companies
In respect of prior years
Outside Malaysia:
Current taxation
Deferred taxation
In respect of prior years
108
22,451
(101)
23,850
(3,731)
10,119
(2,278)
(3,335)
(61)
-
-
42,469
4,445
-
-
26,979
109,030
(49)
9,503
Notes
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TAXATION (CONTINUED)
There is no tax charge for the current financial year for the Company as the tax is waived in accordance
with the Income Tax (Amendment) Act, 1999. The chargeable income of RM94,918,000 on which the tax
is waived shall be credited to an exempt account from which tax exempt dividends can be declared,
subject to agreement with the Inland Revenue Board.
The tax at source on dividend income from the operating subsidiary companies is recorded as an amount
recoverable by the Group, therefore resulting in a credit to the Group’s profit and loss account.
As at 30 April 1999, the Company has tax losses of approximately RM1,587,000 (1998: RM1,750,000) and
unutilised capital allowances of approximately RM6,705,000 (1998: RM5,984,000) which can be used to
offset against future taxable profits subject to the agreement of the Inland Revenue Board.
As at 30 April 1999 the Company has a potential deferred tax benefit of approximately RM2,217,000
(1998: RM2,125,000), arising principally from tax losses carried forward and unutilised capital allowances,
the effects of which are not included in the accounts as there is no assurance beyond any reasonable
doubt that future taxable income will be sufficient to allow the benefit to be realised.
28
DIVIDENDS
Group and Company
1999
1998
RM’000
RM’000
Underprovision of dividend in previous year due to
enlargement of share capital
-
40
-
12,673
38,308
8,753
38,308
21,466
Interim paid:
Nil (1998: 2 sen gross per share, less 28% tax)
Proposed final:
3 sen per share tax exempt
(1998: 1 sen gross per share, less 28% tax)
29
(LOSS)/EARNINGS PER SHARE
Loss per share is calculated by dividing the Group’s loss after taxation and minority interests of
RM109,851,000 (1998: profit after taxation and minority interests of RM4,738,000) by the weighted
average number of 1,243,164,000 shares (1998: weighted average number of 910,554,000 shares) of the
Company in issue during the financial year.
The fully diluted loss per share for the current year has not been computed as the Group showed basic
loss per share for the year.
109
Notes
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S E G M E N TA L A N A LY S I S
Turnover
RM’000
Profit/
(loss)
before
taxation
RM’000
Financial services
Manufacturing
Infrastructure
Property investment and development
Hotel, resort and recreation
Toto betting and related activities
Marketing of consumer products and services
283,830
722,195
137,942
760,512
2,195,411
2,883,869
63,034
(19,606)
21,635
629
443,423
29,813
1,058,386
801,828
189,642
2,650,273
1,825,943
1,909,513
1,853,655
6,983,759
256,754
538,928
(21,464)
10,289,240
425,446
Investment holding and others
7,240,513
32,015
517,464
(212,705)
10,714,686
1,786,912
7,272,528
304,759
12,501,598
Financial services
Manufacturing
Property investment and development
Hotel, resort and recreation
Toto betting and related activities
Marketing of consumer products and services
784,470
743,759
171,062
629,261
2,188,238
2,593,795
40,961
5,318
44,832
(4,305)
454,575
46,412
2,388,821
731,218
2,589,253
1,950,281
1,789,851
1,526,086
7,110,585
296,645
587,793
10,556
10,975,510
496,510
Investment holding and others
7,407,230
41,879
598,349
(255,965)
11,472,020
2,362,546
7,449,109
342,384
13,834,566
Total
assets
employed
RM’000
Group
1999
1998
Segmental information by geographical locations is not provided.
31
S I G N I F I C A N T R E L AT E D PA R T Y T R A N S A C T I O N S
Group
110
Acquisition of properties
from a director related company
Purchase of marketable securities
from a company related to
certain directors of the Company
Management fees receivable
from subsidiary companies
Progress payments to a director related
company in connection with the
acquisition of properties which are
being constructed
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
43,496
-
-
-
-
63,604
-
-
-
-
509
1,781
71,929
29,255
-
-
Notes
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S I G N I F I C A N T R E L AT E D PA R T Y T R A N S A C T I O N S ( C O N T I N U E D )
The purchase consideration for the properties is based on valuation determined by an independent firm
of professional valuers.
Details of significant intercompany acquisitions and disposals of assets completed during the financial
year are included in Note 34(A).
32
CAPITAL COMMITMENTS
Group
Capital expenditure
Fixed assets
- approved and contracted for
- approved but not contracted for
Infrastructure project
- approved and contracted for
Commitments for investments in
other corporations
Balance of purchase consideration
for the acquisition of properties
Obligations under ongoing
underwriting agreements
Undrawn portion of loans committed
to third parties by an insurance subsidiary
Contracts placed for Year 2000 compliance
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
20,109
24,652
12,778
31,439
-
-
476,474
-
-
-
521,235
44,217
-
-
37,500
53,650
-
-
110,535
247,578
-
-
4,800
-
-
-
1,295
951
-
292
-
675,365
346,396
292
-
Balance of purchase consideration for the acquisition of properties is in relation to the acquisition from a
director related company. The purchase consideration for the properties are based on valuation determined
by an independent firm of professional valuers.
Details of significant commitments for acquisition of properties and investments are included in Notes
34(B), 35(A) and 35(B) to the accounts.
33
CONTINGENT LIABILITIES
Group
Company
1999
1998
RM’000
RM’000
1999
RM’000
1998
RM’000
8,391
9,916
-
-
-
-
920,777
943,436
8,391
9,916
920,777
943,436
Secured
Performance and tender bonds guaranteed by
general insurance subsidiary company
Unsecured
Guarantees given to financial institutions for
facilities granted to related companies
111
Notes
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34
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR
(A) COMPLETED EVENTS
(1) On 28 May 1998, Berjaya Lottery Management (HK) Limited (“BLM”), then a subsidiary company
of the Company and an associated company of Berjaya Sports Toto Berhad (“BToto”), completed
the disposal of its entire 40% equity interest in Philippine Gaming Management Corporation
(“PGMC”) to Prime Gaming Philippines, Inc (“Prime Gaming”) for a total consideration of
PHP208.0 million or approximately RM20.3 million, satisfied by the issuance of 20.8 million new
common shares of PHP10 each at par in Prime Gaming and the assignment to Prime Gaming of the
long term debt of PHP329,485,588 owing by PGMC to BLM for a total consideration of
PHP329,485,588 or approximately RM32.9 million satisfied by the issuance of 32,948,558 new
common shares of PHP10 each at par in Prime Gaming. Upon completion of the disposal, BLM
owns approximately 54.04 million shares or 54.3% in Prime Gaming. Concurrently, the other PGMC
stockholders holding the balance of 60% equity interests have also entered into similar agreements
with Prime Gaming. As a consequence, Prime Gaming became a subsidiary of BLM which
indirectly increased the effective interest in PGMC via Prime Gaming from 40% to 54.3%.
Prime Gaming is a public company that is listed on the Philippine Stock Exchange.
(2) On 4 June 1998, Berjaya Capital Berhad (“BCapital”) completed the divestment of its entire
shareholdings of 68,830,000 ordinary shares of RM1.00 each, representing 68.83% of the issued and
paid-up share capital of Prudential Assurance Malaysia Berhad for a total cash consideration of
RM722.715 million.
(3) On 29 June 1998, the Company and BToto announced that BLM has entered into a Conditional
Sale and Purchase Agreement with International Lottery & Totalizator Systems Inc. (“ILTS”) for
the disposal of 20,800,000 common shares representing approximately 20.90% equity interest in
Prime Gaming for a proposed sale consideration of PHP364.0 million (approximately RM36.4
million) or at PHP17.5 per share. The sale consideration will be satisfied by the issuance of
3,791,667 new common shares of ILTS at a proposed issue price of USD2.40 per share. This will
increase BLM’s stake in ILTS from 36.61% to 38.68%.
However, on 11 March 1999, ILTS announced that the Prime Gaming shareholders, who are parties
to the Conditional Sale and Purchase Agreement, terminated the proposed transaction.
(4) On 13 July 1998, Berjaya Land Berhad (“BLand”) announced that it has disposed of a total of
50,000,000 ordinary shares of RM1.00 each representing 8.74% of the issued and paid-up share
capital of BToto via private placement through a stockbroker on 7 July 1998 at a placement price of
RM6.05 per BToto share for an aggregate cash consideration of approximately RM300.7 million.
(5) On 17 July 1998, Cosway Corporation Berhad (“CoswayCorp”) announced the rescission of the
proposed sale to Tengku Dato’ Adnan Bin Tengku Mansor of 46.5 million ordinary shares
representing 30% of the issued and paid-up share capital of Cosway (M) Sdn Bhd (“Cosway”), then
a 94%-owned subsidiary company of CoswayCorp for a total cash consideration of approximately
RM162.8 million, in view of the difficult economic and financial environment then.
(6) On 20 July 1998, BLM completed its further acquisition of 14,132,314 Prime Gaming shares for a
total consideration of PHP247.3 million or approximately RM26.3 million resulting in BLM’s equity
interest in Prime Gaming being increased from 54.30% to 68.50%.
(7) On 22 September 1998, Berjaya Vacation Club Berhad (“BVC”), a wholly owned subsidiary
company of BLand, completed the acquisition of 56.02 acres of commercial leasehold land in
Mukim of Bentong, Negeri Pahang Darul Makmur for a total cash consideration of approximately
RM19.5 million from Bukit Tinggi Resort Berhad (“BTRB”).
112
Notes
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SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (CONTINUED)
(A)
COMPLETED EVENTS (CONTINUED)
(8) On 26 September 1998, the Company announced that its various subsidiary companies have
converted/exercised a total of RM15,091,486 nominal amount of 6% Redeemable Convertible
Unsecured Loan Stocks 1993/1998 (“Cosway CULS”) and 35,361,000 Transferable Subscription
Rights (“Cosway TSRs”) into 50,452,486 new ordinary shares of RM1.00 each in CoswayCorp on the
following basis :(a) For Cosway CULS, by tendering RM1.00 nominal amount of Cosway CULS and RM3.25 cash
for one new ordinary share in CoswayCorp; and
(b) In respect of Cosway TSRs, by paying cash of RM4.25 per share for the subscription of one new
ordinary share in CoswayCorp for every one Cosway TSR held.
(9) On 30 November 1998, the Company announced that it has been informed by Transwater
Corporation Berhad that the latter no longer wishes to proceed with the previously announced
proposals to acquire :
(i) 80% equity interest in Tioman Island Resort Berhad (“TIRB”) held by BLand for a total cash
consideration of approximately RM137.7 million;
(ii) 4,000,000 ordinary shares of RM1.00 each representing 100% equity interest in the issued and
paid-up share capital of Kota Raya Development Sdn Bhd held by BLand for a total cash
consideration of approximately RM38.2 million via TIRB; and
(iii)4 pieces of contiguous freehold land measuring on aggregate approximately 5,438.69 acres in
Mukim of Sungei Tinggi and Batang Berjuntai, Selangor Darul Ehsan from Eminent Capital
Sdn Bhd (“ECSB”), a wholly owned subsidiary company of the Company, for a cash
consideration of approximately RM435.1 million via TIRB.
(10)On 30 November 1998, the Company announced that the Conditional Sale and Purchase
Agreement entered into by ECSB with BLand on 1 December 1997 for the disposal of 3,787.65
acres of freehold land in Mukim of Sungei Tinggi for a cash consideration of approximately
RM303.0 million has lapsed due to non-fulfillment of certain conditions. Both parties have mutually
agreed to rescind the said agreement.
(11)On 8 December 1998, CoswayCorp completed the acquisition of 6,510,000 ordinary shares of
RM1.00 each representing 4.2% in Cosway from Mr Chuah Choong Heong at a price of RM1.23 per
share for a cash consideration of approximately RM8 million. As a result of this acquisition, Cosway
became a wholly owned subsidiary company of CoswayCorp.
(12)On 11 December 1998, the Company completed the early conversion of the remaining
RM81,674,031 6% Irredeemable Convertible Unsecured Loan Stocks 1996/2001 (“BGB ICULS”)
representing approximately 9.63% of the total original BGB ICULS issue of RM847,903,852. A total
of 40,660,000 BGB ICULS was converted during the year but prior to the early conversion. The
BGB ICULS was issued on 16 December 1996 and due to mature on 15 December 2001.
(13)On 11 December 1998, the Company announced that it has received an offer from Tan Sri Dato’
Seri Vincent Tan Chee Yioun to sell his interest in Intan Utilities Berhad (“Intan”) held via Vista
Meranti Sdn Bhd (“Vista”) and IMD Sdn Bhd (“IMD”) to the Company, to be satisfied by an issue
of new ordinary shares of RM1.00 each and new warrants in the Company.
The proposed offer involves :
(a) the proposed subscription by the Company of 9,998 new shares at par in Magna Pertiwi Sdn Bhd
(“Magna”), presently a wholly owned subsidiary company of Vista which will have a 21.01%
stake in Intan, for RM9,998 cash; and
113
Notes
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34
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR(CONTINUED)
(A)
COMPLETED EVENTS (CONTINUED)
(b) an undertaking to repay on behalf of Magna RM55,120,090 being the total amounts which will
be owed by Magna to both Vista and IMD pursuant to Magna’s acquisitions of a total of
11,248,998 Intan shares, representing a 21.01% stake in Intan at a price of RM4.90 per Intan
share (“Proposed Repayments”). The Proposed Repayments will be satisfied by an issue of a
total of 55,120,090 new shares of the Company together with 55,120,090 new Warrants.
On 25 June 1999, the Company announced that both parties had decided not to proceed with the
above proposals.
(14)On 18 December 1998, BLand obtained its shareholders’ approval for the acquisition of approximately
96.67% equity in New Pantai Expressway Sdn Bhd (formerly known as Maxtro Engineering Sdn Bhd)
(“NPE”) comprising 14,500,000 ordinary shares of RM1.00 each for a cash consideration of RM53.65
million or at RM3.70 per ordinary share. NPE entered into a 30-year Concession Agreement with the
Government to design, build, operate and transfer an intra-urban toll highway in the Klang Valley
known as the New Pantai Highway which will cover approximately 20 km between Subang Jaya,
Federal Highway, Jalan Bangsar and Kuala Lumpur Seremban Expressway.
(B)
EVENTS PENDING COMPLETION
(1) On 13 August 1998, the Company announced the proposed rights issue of Irredeemable
Convertible Unsecured Loan Stocks (“BGB ICULS 1999/2009”) with four Warrants attached. The
rights ratio is RM1.00 nominal amount for every two ordinary shares held. Each RM1.00 nominal
value of BGB ICULS 1999/2009 can be converted into one ordinary share of RM1.00 each at the
Conversion Price of RM1.00. Each RM1.00 nominal value of BGB ICULS 1999/2009 will come
attached with four warrants which will entitle its holders to subscribe for further shares in the
Company at the Exercise Price of RM1.00. The tenure of BGB ICULS 1999/2009 and Warrant is
ten years. The remaining BGB ICULS 1999/2009 at the end of its tenure will automatically be
converted into new Berjaya Group Berhad shares at the Conversion Price of RM1.00. The BGB
ICULS 1999/2009 issue will raise approximately RM607.88 million in long term capital immediately
whilst the Warrants may potentially raise a further RM2.43 billion over the period of its tenure.
On 9 December 1998, the Company received the approval from the Securities Commission for the
rights issue of up to RM650,193,139 nominal amount of BGB ICULS 1999/2009 with up to
2,600,772,556 detachable warrants on the basis of RM1.00 nominal amount of ICULS with four
Warrants attached for every two existing ordinary shares of RM1.00 each held. The total BGB
ICULS 1999/2009 to be issued are 640,025,128 with 2,560,100,512 detachable warrants based on the
share capital in issue at that time.
All approvals have been obtained and the closing date for subscription is 24 September 1999.
(2) On 23 January 1999, BLand announced the proposed acquisition by Semangat Cergas Sdn Bhd
(“SCSB”), a wholly owned subsidiary company of BLand, of approximately 136.55 acres of
leasehold land (expiring on 1 August 2092) from BTRB for a total consideration of RM27.65 million
(“Proposed Acquisition”).
As an integral part of the terms and conditions of the Proposed Acquisition, BTRB shall upon
finalisation of the Proposed Acquisition, undertake to purchase or procure the sale of at least
RM26.63 million worth of developed properties from the BLand group.
Hence, SCSB will finance the Proposed Acquisition from the proceeds of sale of at least RM26.63
million worth of properties, and only if required, any nominal differences shall be funded from
internal funds.
114
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SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR(CONTINUED)
(B)
EVENTS PENDING COMPLETION (CONTINUED)
(3) On 3 March 1999, BLand announced the proposed conversion of some of BLand Group’s existing
bank loans into new BLand Irredeemable Convertible Unsecured Loan Stocks (“BLB ICULS
1999/2009”) and shares (“Proposed Debt Conversion”). An aggregate amount of approximately
RM900 million, comprising loans and interests to be capitalised, which were granted for investment
purposes only, are considered in the Proposed Debt Conversion.
Upon the completion of the Proposed Debt Conversion, BLand proposes to implement an offer for
sale of BLB ICULS 1999/2009 to all the shareholders of BLand other than the Company, the
holding company of BLand. The consensus of the lenders will be sought to participate in the
Proposed Offer For Sale (“POFS”) proportionately to the number of ICULS held by them.
As an integral part of the Proposed Debt Conversion exercise, BLand will enter into “put” and
“call” options for the BLB ICULS 1999/2009 while the Company has also agreed to enter into
“put” and “call” options for the BLand shares, to the lenders over a period of five years to facilitate
the lender’s divestment of the ICULS and shares.
On 30 April 1999, BLand announced that several creditors have agreed in principle to convert their
respective debts into BLB ICULS 1999/2009. The terms of the BLB ICULS 1999/2009 to be issued
to the creditors will be similar to those BLB ICULS 1999/2009 to be issued to the financial
institutions except that there will not be any “put” and “call” arrangements and the creditors will not
be involved in the Proposed Offer for Sale. It is expected that not more than RM50 million of the
creditors’ debts will be involved in this exercise and these debts together with the bank loans would
not exceed RM900 million of debts to be converted into BLB ICULS 1999/2009 and ordinary shares.
On 4 June 1999, BLand announced an increase in the aggregate quantum of the Proposed Debt
Conversion from RM900 million to approximately up to RM1.2 billion to cater for new participation
from additional lenders and creditors. This will mainly involve two of the operating companies
within BLand Group, namely, NPE and Dian Kristal Sdn Bhd.
On 13 August 1999, BLand announced that the Securities Commission (“SC”) approved the
Proposed Debt Conversion on 9 August 1999. One of the main conditions of the SC approval is that
the issue price of the new BLand shares be fixed based on the 5-day weighted average market price
of the BLand shares on a date after SC’s approval and the BLB ICULS 1999/2009 to be fixed at a
premium over the share issue price. As such, a total of 64,516,129 new BLand shares will be issued,
at an issue price of RM1.55 per share, for the Proposed Debt Conversion and these BLand shares
will be the subject of the above “put” and “call” option to be entered into by the Company. The
issue price of the BLB ICULS 1999/2009 will be RM1.00 but the conversion price will be at
RM1.60, being a premium to the aforesaid share issue price.
The Company has proposed to assume the put option, previously proposed to be granted by BLand,
in respect of the remaining BLB ICULS after the POFS and BLand will assign its call option to the
Company. The indicative bases for the POFS shall be RM3.00 nominal amount of BLB ICULS for
two existing BLand shares held or RM4.70 nominal amount of BLand ICULS 1996/2001 held on an
entitlement date to be announced in due course.
All approvals from the relevant authorities have been obtained for the Proposed Debt Conversion
and it is now pending shareholders’ approval.
(4) On 30 April 1999, BLand announced the proposal to establish a new employees’ share option
scheme (“Proposed New ESOS”) of up to 10 per centum (10%) of the issued and paid-up share
capital at any one time during the existence of the Proposed New ESOS for the benefit of eligible
executive directors and employees of BLand and its non-listed Malaysian incorporated subsidiary
companies which are not dormant. The Proposed New ESOS will succeed the previous employees’
share option scheme which has expired on 4 March 1999.
115
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SIGNIFICANT EVENTS SUBSEQUENT TO THE BALANCE SHEET DATE
(A)
COMPLETED EVENT
(1) On 10 August 1999, the Company announced that its wholly owned subsidiary companies, Juara
Sejati Sdn Bhd and Bizurai Bijak (M) Sdn Bhd and the Company had disposed of a total of
66,336,000 ordinary shares of RM1.00 each representing 11.73% of the equity in BCapital in the
open market during the period from 23 December 1998 to 27 July 1999 for a net consideration of
approximately RM124 million.
(B)
EVENTS PENDING COMPLETION
(1) On 26 July 1999, the Company announced that its wholly owned subsidiary company, Garima
Holdings Sdn Bhd has agreed to dispose of a total of 40.0 million ordinary shares of RM1.00 each
representing approximately 11.7% of the issued and paid-up share capital of CoswayCorp to Yang
Bahagia Dato’ Samsudin bin Abu Hassan for a total cash consideration of RM84.0 million or at
RM2.10 per share.
(2) On 6 August 1999, the Company announced that its wholly owned subsidiary company, Berjaya
Group (Aust) Pty Ltd and itself have entered into a Share Sale Agreement with inter alia, Revesco
Limited and Suncall Investments for the proposed divestment of the group’s interest in the entire
50% stake in Advance Medical Technology Pty Ltd, the holding company for the Gribbles
Pathology group of companies and trusts; and a 21.5% stake in the enlarged share capital of Gribbles
Pathology (M) Sdn Bhd collectively for a total gross consideration of AUD71.32 million or
approximately RM178.3 million.
(3) On 15 August 1999, the Company announced the following proposed acquisitions :(i) 2,040,000 ordinary shares of RM1.00 each representing 51% equity interest in Danau Kerjaya
Sdn Bhd (“DKSB”) for a total consideration of RM8.44 million or at approximately RM4.14 per
share, and the advancement of proportionate shareholders’ loan of approximately RM8.56
million. DKSB owns two parcels of irregular-shaped freehold land, measuring approximately
12.91 acres within the exclusive Damansara Heights area in Kuala Lumpur.
(ii) 3,570,000 ordinary shares of RM1.00 each representing 51% equity interest in Cosda (M) Sdn
Bhd (“CMSB”) for a total consideration of RM2.08 million or at approximately RM0.58 per
share, and the advancement of proportionate shareholders’ loan of approximately RM12.92
million. CMSB owns thirty-one parcels of adjoining land totalling approximately 53.74 acres in
the vicinity of Batu Ferringhi, Penang.
(4) On 16 August 1999, the Company announced that Carlovers Carwash Limited (“Carlovers”), a 72%
owned subsidiary company of the Group, intend to acquire from Berjaya Group (Aust) Pty Ltd, a
wholly owned subsidiary company of the Group, its 60% stake in Video Ezy Australasia Pty Ltd
(“Video Ezy”). The acquisition is currently subject to an independent valuation of the 60% interest
in Video Ezy and approval from directors and shareholders of both companies as well as the
regulatory bodies concerned.
Carlovers is a public company that is listed on the Australian Stock Exchange.
116
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L I S T O F S U B S I D I A R I E S A N D A S S O C I AT E D C O M PA N I E S
Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Principal activities
SUBSIDIARIES:
Subsidiaries of the Company
Berjaya Bandartex Sdn Bhd
Berjaya Capital Berhad
Berjaya Carlovers (M) Sdn Bhd
Berjaya Coffee Company (M) Sdn Bhd
Berjaya Corporation (Cayman) Limited
Berjaya Corporation (S) Pte Ltd #
Berjaya Cosway (Overseas) Sdn Bhd
Berjaya Education Sdn Bhd
Berjaya Group Capital (Cayman) Limited
Berjaya Group(Cayman) Limited
Berjaya Knitex Sdn Bhd
Berjaya LeRun Industries Berhad
Berjaya Premier Restaurants Sdn Bhd
Berjaya Registration Services Sdn Bhd
Berjaya Retail Sdn Bhd
Berjaya Roadhouse Grill Pte Ltd#
Berjaya Roadhouse Grill Sdn Bhd
Berjaya Roasters (M) Sdn Bhd
Berjaya Ross Systems Sdn Bhd
Berjaya Software Services Sdn Bhd
Berjaya Soutex Sdn Bhd
Berjaya Synthetic Fibre Sdn Bhd
Berjaya Systems Integrators Sdn Bhd
Berjaya Wood Furniture (Malaysia)
Sdn Bhd
Bizurai Bijak (M) Sdn Bhd
Bukit Pinang Leisure Sdn Bhd
Cosway Corporation Berhad*
Espeetex Sdn Bhd
E.V.A. Management Sdn Bhd
(formerly known as South
Pacific Spinners Sdn Bhd)
Malaysia
Malaysia
Malaysia
100.0 100.0 Garment manufacturer.
78.2a 79.4 Investment holding.
75.0 75.0 Operator of self-service
carwash centres.
Malaysia
100.0
- Operation of coffee outlets.
Cayman Islands 100.0 100.0 Investment holding.
Singapore
100.0 100.0 Marketing agent.
Malaysia
100.0 100.0 Provision of management
services.
Malaysia
60.0 60.0 Provision of education and
professional training services.
Malaysia
100.0 100.0 Knitted fabrics manufacturer.
Malaysia
100.0 100.0 Manufacture and sale of
bicycles and accessories.
Malaysia
100.0 100.0 Investment holding.
Malaysia
100.0 100.0 Shares registration services.
Malaysia
100.0 100.0 Dormant.
Singapore
100.0 100.0 Dormant.
Malaysia
100.0 100.0 Service restaurant operator.
Malaysia
100.0 100.0 Mid-casual dining restaurant
operator.
Malaysia
Malaysia
100.0 100.0 Dormant.
Malaysia
100.0 100.0 Investment holding,
manufacture and sale of yarn.
Malaysia
100.0 100.0 Dormant.
Malaysia
100.0 100.0 Dormant.
Malaysia
furniture.
Malaysia
Malaysia
100.0 100.0 Property development.
Malaysia
71.4b 69.2 Investment holding.
Malaysia
Malaysia
100.0 100.0 Provision of
management services.
a - The total equity interests held by the Group is 78.2% and it is held by the following group companies
(i) Berjaya Group Berhad
42.49 %
(ii) Juara Sejati Sdn Bhd
16.26 %
(iii) Bizurai Bijak (M) Sdn Bhd
19.15 %
(iv) Garima Holdings Sdn Bhd
0.31 %
b-The total equity interests held by the Group is 71.4% and it is held by the following group companies
(i) Garima Holdings Sdn Bhd
49.73%
17.52%
4.13%
117
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L I S T O F S U B S I D I A R I E S A N D A S S O C I AT E D C O M PA N I E S ( C O N T I N U E D )
Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of the Company (continued)
Finewood Forest Products Sdn Bhd
Malaysia
Flywheel Rubber Works Sdn Bhd
Garima Holdings Sdn Bhd*
Graphic Press Group Sdn Bhd
Gribbles Pathology (Malaysia) Sdn Bhd
Malaysia
Malaysia
Malaysia
Malaysia
Inai Jaya Sdn Bhd
Inter-Pacific Communications Sdn Bhd
Inter-Pacific Development Sdn Bhd
Inter-Pacific Financial Services Sdn Bhd
Inter-Pacific Trading Sdn Bhd
IRIS Technologies (M) Sdn Bhd
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Juara Sejati Sdn Bhd
Kalimas Sendirian Berhad
Knitwear Fashion (Kedah) Sdn Bhd
Malaysia
Malaysia
Malaysia
Ralmal Development Sdn Bhd
Rangkaian Sejahtera Sdn Bhd
Sesistem Angkut Sdn Bhd
Malaysia
Malaysia
Malaysia
Shinca Sdn Bhd*
Malaysia
South Pacific Textiles Industries
(Singapore) Pte Ltd#
Teras Mewah Sdn Bhd
United Approach Sdn Bhd
Wangsa Tegap Sdn Bhd
Singapore
moulded timber and other
related timber products.
85.0 85.0 Property investment.
60.0 60.0 Printing and packaging.
70.0 70.0 Investment holding and
provision of pathology services.
100.0 100.0 Advertising and public relations.
100.0 100.0 Dormant.
70.0 70.0 General trading.
50.5c
- Smartcard design and
manufacturing.
100.0 100.0 Property investment and
rental of property.
100.0 100.0 Transportation services
and investment holding.
95.0 95.0 Manufacture of computer
monitors and related products
and assembling and testing
of audio, visual and
communication products.
100.0 100.0 Garment export agency.
Malaysia
Malaysia
Malaysia
60.0 60.0 Operation of a private college.
rental of properties.
Prudential Assurance Malaysia Berhad
Berjaya General Insurance Berhad*
Cahaya Nominees (Tempatan) Sdn Bhd*
Inter-Pacific Capital Sdn Bhd
Prime Credit Leasing Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
70.0
100.0
89.5
100.0
Rantau Embun Sdn Bhd
The Tropical Veneer Company Berhad
Malaysia
Malaysia
Subsidiaries of Berjaya Capital Berhad
68.8
70.0
100.0
89.5
100.0
Life insurance.
General insurance.
Nominee services.
Investment holding.
Hire purchase, lease and
loan financing.
100.0 100.0 Dormant.
100.0 100.0 Dormant.
Subsidiaries of Inter-Pacific Capital Sdn Bhd
Ambilan Imej Sdn Bhd
Inter-Pacific Futures Sdn Bhd
Malaysia
Malaysia
100.0 100.0 Futures brokers.
c - The total equity interests held by the Group is 50.5% and it is held by the following group companies
(i) Berjaya Group Berhad
40.00%
(ii) Bizurai Bijak (M) Sdn Bhd
10.45%
118
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Inter-Pacific Capital Sdn Bhd (continued)
Inter-Pacific Management SdnBhd
Inter-Pacific Securities Sdn Bhd
Embun Bebas Sdn Bhd
Eng Securities Sdn Bhd
Malaysia
Malaysia
Malaysia
Malaysia
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Dormant.
Stockbroking.
Dormant.
Stockbroking.
Subsidiaries of Inter-Pacific Securities Sdn Bhd
Inter-Pacific Equity Nominees (Asing) Sdn Bhd Malaysia
Inter-Pacific Equity Nominees
Malaysia
(Tempatan) Sdn Bhd
Inter-Pacific Portfolio Managers Sdn Bhd Malaysia
100.0 100.0 Nominee services.
100.0 100.0 Fund management.
Subsidiaries of Eng Securities Sdn Bhd
Eng Nominees (Asing) Sdn Bhd
Eng Nominees (Tempatan) Sdn Bhd
Malaysia
Malaysia
Subsidiaries of Berjaya Corporation (Cayman) Limited
Berjaya Corporation
(Netherlands Antilles) N. V.
Berjaya Trading (UK) Ltd#
J.L. Morison Son & Jones (Malaya) Sdn Bhd
Lindwood Holdings Limited
Texan Apparel, Inc
United Berjaya (USA) Inc
Netherlands
100.0
Antilles
United Kingdom 100.0
Malaysia
100.0
British
100.0
Virgin Islands
United States
of America
United States
of America
100.0 Dormant.
100.0 Investment holding.
100.0 Dormant.
100.0 Dormant.
100.0 Dormant.
Subsidiaries of Berjaya Group (Cayman) Limited
Berjaya Forest Products (Cayman) Limited
Berjaya Group Equity (Cayman) Limited
Berjaya Investment (Cayman) Limited
Berjaya Manufacturing (HK) Limited*
Berjaya Roasters (UK) Limited#
Berjaya Timber Industries (Guyana) Ltd*
Berjaya Wood Marketing (Cayman) Limited
Carlovers Carwash Limited*
Cayman Islands 100.0
Hong Kong
100.0
United Kingdom 100.0
Guyana
100.0
Australia
55.0
Carlovers International Limited
Cayman Islands
51.0 51.0
Carlovers Specialty Products Pte Ltd *
Australia
51.0 51.0
Roadhouse Grill Inc.*
100.0
100.0
100.0
100.0
100.0
100.0
100.0
55.0
United States
of America
Roadhouse Grill Asia Pacific (HK) Limited* Hong Kong
100.0 100.0
Roasters Asia Pacific (HK) Limited #
100.0 100.0
Hong Kong
62.2 60.6
Investment holding.
Investment holding.
Investment holding.
Dormant.
Dormant.
Timber logging.
Dormant.
Operation of self-service
carwash centres.
Owner, operator and franchisor
of “Carlovers Carwash”.
Trading and distribution of
“Carlovers” car care products.
Owner, operator and franchisor of
“Roadhouse Grill Restaurants.”
of the “Roadhouse Grill
Restaurant” chains in Asia
Pacific region.
of the “Kenny Rogers Roasters
Restaurant” chain for Asia
Pacific region.
119
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Berjaya Group (Cayman) Limited (Continued)
Roasters Corp.*
United States
73.5 73.5 Dormant.
of America
STAR Harbour Timber Company Limited * Solomon Islands 100.0 100.0 Dormant.
Syntax Limited*
Taiga Forest Products Ltd*
Wireless Telecom Limited
Hong Kong
Canada
100.0 100.0 Dormant.
- 59.9 Wholesale distribution of
lumber and panel products.
Cayman Islands 55.0 55.0 Marketing of satellite and
wireless communication
products.
Subsidiary of Berjaya Forest Products (Cayman) Limited
Taiga Forest Products Ltd*
Canada
59.9
- Wholesale distribution of
lumber and panel products.
Subsidiaries of Berjaya Group Equity (Cayman) Limited
Healthcare Holdings (Cayman) Limited
Berjaya Group (Aust) Pty Ltd#
Video Ezy International Ltd
Australia
Subsidiary of Berjaya Group (Aust) Pty Ltd
Video Ezy Australasia Pty Limited *
Australia
Subsidiary of Carlovers International Limited
Carlovers International Services
Pty Ltd *
Australia
services.
Subsidiaries of Roadhouse Grill Asia Pacific (HK) Limited
Roadhouse Grill Asia Pacific (M) Sdn Bhd
Roadhouse Grill Asia Pacific (Cayman)
Limited
Malaysia
services.
Subsidiaries of Roasters Asia Pacific (HK) Limited
Roasters Asia Pacific (M) Sdn Bhd
Roasters Asia Pacific (Cayman) Limited
Malaysia
services.
Subsidiaries of Berjaya LeRun Industries Berhad
Berjaya Cycles Sdn Bhd
Malaysia
LeRun Metal Products Sdn Bhd
Malaysia
bicycles and accessories.
Subsidiaries of Berjaya Premier Restaurants Sdn Bhd
Nadi Klasik Sdn Bhd
Fortune Court Restaurant Sdn Bhd
Premimas Sdn Bhd
Malaysia
Malaysia
Malaysia
100.0 100.0 Restaurant operator.
66.9 66.9 Dormant.
100.0 100.0 Dormant.
Subsidiary of Berjaya Ross Systems Sdn Bhd
Powerful Impact Sdn Bhd
120
Malaysia
100.0 100.0 Dormant.
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Berjaya Soutex Sdn Bhd
Oriental Garment Sdn Bhd
Malaysia
Qualinit Sendirian Berhad
South Pacific Textile (HK) Limited#
Malaysia
Malaysia
100.0 100.0 Investment holding and
garment manufacturer.
60.0 60.0 Dormant.
100.0 100.0 Dormant.
Malaysia
Malaysia
Malaysia
Singapore
100.0
100.0
100.0
100.0
Malaysia
100.0 100.0 Dormant.
Subsidiaries of Oriental Garment Sdn Bhd
Cartel Corporation Sdn Bhd
Sanwa Garment Sdn Bhd
Texan (M) Sdn Bhd
Texan (S) Pte Ltd*
100.0
100.0
100.0
100.0
Trading in garments.
Dormant.
Trading in garments.
Dormant.
Subsidiary of Bukit Pinang Leisure Sdn Bhd
Bukit Pinang Rel Sdn Bhd
Subsidiaries of Finewood Forest Products Sdn Bhd
Finewood Trading Sdn Bhd
Finewood Marketing (UK) Ltd*
Malaysia
100.0 100.0 Trading of furniture and
timber.
United Kingdom 70.0 70.0 Commission agents.
Subsidiaries of Cosway Corporation Berhad
Berjaya HVN Sdn Bhd*
Malaysia
Berjaya Sound Entertainment Sdn Bhd*
Malaysia
Berjaya Unza Holdings (BVI) Limited*
Cosway (M) Sdn Bhd*
British
Virgin Islands
Malaysia
Noble Creation Sdn Bhd*
Noble Karaoke Equipment Sdn Bhd*
Rapid Computer Centre (SEA) Sdn Bhd*
Singer (Malaysia) Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
Tegas Kinta Sdn Bhd*
The Catalog Shop Sdn Bhd*
Malaysia
Malaysia
50.2 50.2 Distribution, sale and rental
of audio/visual home
entertainment products.
100.0 100.0 Sale of karaoke laser discs and
video tapes.
100.0 94.0 Direct selling of cosmetics
perfumery, fashion jewellery
and other consumer products.
95.5 95.5 Dormant.
100.0 100.0 Marketing and selling of
consumer durable products on
cash, credit and hire purchase
terms under the “Singer”
trademark.
100.0 100.0 Retailing of consumer
products on cash and
equal payment scheme.
Subsidiary of Berjaya HVN Sdn Bhd
Direct Vision Sdn Bhd*
Malaysia
100.0 100.0 Sale and rental of
audio/visual home
entertainment products.
121
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiary of Noble Creation Sdn Bhd
Unza Holdings Berhad*
Malaysia
56.0d 62.1 Investment holding.
Subsidiaries of Berjaya Unza Holdings (BVI) Limited
Unza Cathay Limited*
Hong Kong
Unza Company Pte Ltd*
Singapore
Unza (China) Limited*
Unza Indochina Pte Ltd*
Hong Kong
Singapore
100.0 100.0 Trading in personal care and
household products.
100.0 100.0 Trading in personal care and
household products.
70.0
- Investment holding and
trading of personal care
and household products.
Subsidiary of Unza (China) Limited
Dongguan Unza Consumer Products Ltd*
People’s
100.0 100.0 Manufacture of personal
Republic of China
care and household products.
Subsidiary of Unza Indochina Pte Ltd
Unza Vietnam Company Ltd*
Vietnam
100.0
- Manufacturing and marketing
of personal care and household
products.
Subsidiaries of Cosway (M) Sdn Bhd
Cosway (Cayman) Limited*
Cosway (S) Pte Ltd*
Juara Budi Sdn Bhd*
Kimia Suchi Sdn Bhd*
Rank Distributors Sdn Bhd*
Singapore
100.0 100.0 Dormant.
Malaysia
Malaysia
82.0 82.0 Manufacture and trading
of washing detergents.
Malaysia
60.0 60.0 Trading in pharmaceutical
products.
Subsidiaries of Cosway (Cayman) Limited
Cosway Argentina S.R.L.*
Cosway Colombia Ltda.*
Cosway De Mexico, S.A. De C.V.*
Argentina
Colombia
Mexico
Cosway De Venezuela C.A.*
Cosway Do Brasil Ltda.*
Venezuela
Brazil
Cosway International Limited#
Cosway, Inc.
Hong Kong
United States
of America
Peru
Philippines
Cosway Peru, S.R, Ltda.*
Cosway (Philippines) Inc.*
90.0 90.0 Dormant.
90.0 90.0 Dormant.
95.0 90.0 Direct selling of consumer
products.
90.0 90.0 Dormant.
99.0 99.0 Direct selling of
consumer products.
100.0 100.0 Dormant.
100.0 100.0 Dormant.
96.0 96.0 Dormant.
95.0 85.0 Direct selling and trading
of consumer products.
Cosway Portugal Imports and Exports Ltd* Portugal
90.0 90.0 Dormant.
Cosway (UK) Limited
United Kingdom 100.0 100.0 Dormant.
d - The total equity interests held by the Group is 68.9% and it is held by the following group companies
(i) Noble Creation Sdn Bhd
56.00%
(ii) Bizurai Bijak (M) Sdn Bhd
10.37%
(iii) Berjaya Land Development Sdn Bhd
2.59%
122
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiary of Juara Budi Sdn Bhd
Stephens Properties Sdn Bhd*
Malaysia
Malaysia
100.0 100.0 Property management
services.
Malaysia
100.0 100.0 Trading in washing detergents.
Manufacturing Services Sendirian Bhd*
Malaysia
Unza (Malaysia) Sdn Bhd*
Malaysia
100.0 100.0 Manufacturing of personal
care and household products.
100.0 100.0 Marketing of personal care
Subsidiary of Stephen Properties Sdn Bhd
Stephens Properties Management
Corporation Sdn Bhd*
Subsidiary of Kimia Suchi Sdn Bhd
Kimia Suchi Marketing Sdn Bhd*
Subsidiaries of Unza Holdings Berhad
Subsidiaries of Unza (Malaysia) Sdn Bhd
Aslam (M) Sdn Bhd*
Care Concept (M) Sdn Bhd*
UAA (M) Sdn Bhd*
Malaysia
Malaysia
Malaysia
100.0 100.0 Dormant.
100.0 100.0 Dormant.
100.0 100.0 Distributor of personal care
Subsidiary of Noble Karaoke Equipment Sdn Bhd
Dunham-Bush (Malaysia) Bhd*
Malaysia
57.8e 57.4 Investment holding.
Subsidiaries of Dunham-Bush (Malaysia) Bhd
Anemostat Topgroup Sdn Bhd*
Malaysia
Dunham-Bush International Limited *
(formerly known as Dunham-Bush
Air-Con Equipment (HK) Limited)
Dunham-Bush Holdings (HK) Limited *
Dunham-Bush Industries Sdn Bhd*
Hong Kong
Hong Kong
Malaysia
Dunham-Bush International Pte Ltd *
Singapore
(Cayman) Limited*
Cayman
Islands
86.5 86.5 Manufacturing and trading of
air diffusion, air distribution,
air filtration and sound
attenuation products.
in air-conditioning and
refrigeration equipment
for commercial and
industrial application.
100.0 100.0 Distribution and trading
in air-conditioning and
refrigeration equipment
for commercial and
industrial application.
e - The total equity interests held by the Group is 58.0% and it is held by the following group companies
(i) Noble Karaoke Equipment Sdn Bhd
57.80%
0.19%
123
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Dunham-Bush (Malaysia) Bhd (continued)
Dunham-Bush Sales &
Services Sdn Bhd*
Dunham-Bush Yantai Co Ltd *
Topaire Sdn Bhd*
Topgroup Data-Aire Sdn Bhd*
Topgroup M&E Service Sdn Bhd*
Topgroup Polacel Sdn Bhd*
Topaire Sales & Services Sdn Bhd*
Ventiair Sdn Bhd*
Malaysia
100.0 100.0 Sale, distribution and
installation of large
commercial airconditioning and
refrigeration equipment.
People’sRepublic 55.0 55.0 Manufacture and trading in
of China
air-conditioning and
refrigeration equipment for
commercial and industrial
application.
Malaysia
85.4 85.4 Manufacture and trading in
small commercial and
residential air-conditioning
products.
Malaysia
environmentally closed
controlled air-conditioning
equipment for special
applications.
Malaysia
60.0 60.0 Air-conditioning services
and sale of spare parts.
Malaysia
100.0 100.0 Design, engineering and
manufacture of wet cooling
towers of mechanical
draft type for commercial
and industrial applications.
Malaysia
60.0 60.0 Trading and servicing of
commercial and residential airconditioning and refrigeration
equipment.
Malaysia
in ventilation products.
Subsidiaries of Dunham-Bush International Limited
(formerly known as Dunham-Bush Air-Con Equipment (HK) Limited)
Dunham-Bush Services
Company Limited*
Hong Kong
Top-Aire Air-Conditioning
(China) Limited*
Hong Kong
90.0 90.0 Servicing, repairing and
retro-fitting of airconditioning equipment
and systems.
100.0 100.0 Sale and distribution of
air-conditioning and
refrigeration equipment.
Subsidiaries of Dunham-Bush International Pte Ltd
Dunham-Bush Sales &
Services (S) Pte Ltd*
124
Singapore
installation of commercial
and residential airconditioning and refrigeration
products.
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Dunham-Bush International Pte Ltd (continued)
(Europe) BV*
Netherlands
installation of commercial and
residential air- conditioning
and refrigeration products.
Subsidiaries of Dunham-Bush International (Cayman) Limited
Dunham-Bush Inc*
Dunham-Bush (Europe) PLC*
United States
of America
100.0 100.0 Investment holding,
manufacture and trading of
heating, ventilation and
air-conditioning products.
United Kingdom 51.0 51.0 Investment holding.
Subsidiaries of Dunham-Bush (Europe) PLC
Dunham-Bush Limited*
Leasecross Limited *
Santric Limited *
United Kingdom 100.0 100.0 Manufacture and sale of
heating, ventilating, airconditioning and refrigeration
equipment.
United Kingdom
- 100.0 Dormant.
United Kingdom 100.0 100.0 Manufacture and sale of
stainless steel sanitary ware.
Subsidiary of Topgroup M&E Service Sdn Bhd
Topgroup Parts & Services(Kuantan)
Sdn Bhd*
Malaysia
70.0 70.0 Air-conditioning services
and sale of spare parts.
Subsidiary of Dunham-Bush Inc
Hartford Compressors Inc*
United States
of America
heating, ventilation, airconditioning and refrigeration
equipment.
Malaysia
rental of property.
Subsidiary of Singer (Malaysia) Sdn Bhd
Biofield Sdn Bhd*
Subsidiaries of Gribbles Pathology (Malaysia) Sdn Bhd
Gribbles Veterinary Services Sdn Bhd
Gribbles Environmental Health Services
Sdn Bhd
Gribbles Cytology Services Sdn Bhd
Malaysia
Malaysia
Malaysia
100.0 100.0 Veterinary services.
100.0 100.0 Environmental health
services.
70.0 70.0 Cytology services.
Subsidiaries of Inter-Pacific Development Sdn Bhd
Inter-Pacific Construction Sdn Bhd
Razal Sdn Bhd
Malaysia
Malaysia
100.0 100.0 Dormant.
100.0 100.0 Dormant.
Subsidiary of Inter-Pacific Trading Sdn Bhd
Pacific Horseland (M) Sdn Bhd
Malaysia
70.0 70.0 Sale of equestrian accessories.
125
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of IRIS Technologies (M) Sdn Bhd
IRIS Information Technology
Systems Sdn Bhd
Malaysia
100.0
-
Confidential Matter Limited*
Hong Kong
100.0
-
Marketing of contact and
contactless smart
technology based products.
Dormant.
Subsidiary of Rangkaian Sejahtera Sdn Bhd
Eminent Capital Sdn Bhd
Malaysia
development.
Subsidiary of Teras Mewah Sdn Bhd
Berjaya Land Berhad*
Malaysia
63.2 f 63.9 Investment holding.
Subsidiaries of Berjaya Land Berhad
Alam Baiduri Sdn Bhd*
Amat Muhibah Sdn Bhd*
Amat Teguh Sdn Bhd*
Angsana Gemilang Sdn Bhd*
Awan Suria Sdn Bhd*
Bahan Cendana Sdn Bhd*
Berjaya Air Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
100.0
52.6
100.0
100.0
100.0
100.0
99.3
100.0
52.6
100.0
100.0
100.0
100.0
99.0
Berjaya Enamelware Sdn Bhd*
Malaysia
100.0 100.0
Berjaya Facilities Management Sdn Bhd*
Berjaya Golf Resort Berhad*
Malaysia
Malaysia
100.0 100.0
94.0 94.0
Berjaya Guard Services Sdn Bhd*
Berjaya Holiday Cruise Sdn Bhd*
Berjaya Hotels & Resorts (Mauritius) Ltd*
Berjaya Hotels & Resorts
(Seychelles) Limited*
Berjaya Kawat Industries Sdn Bhd*
Malaysia
Malaysia
Mauritius
Republic of
Seychelles
Malaysia
100.0
86.4
100.0
100.0
Berjaya Land Development Sdn Bhd*
Malaysia
100.0 100.0
100.0
86.4
100.0
100.0
100.0 100.0
Berjaya Leisure Capital (Cayman) Limited Cayman Islands 100.0 100.0
Berjaya Leisure (Cayman) Limited
Cayman Islands 100.0 100.0
Berjaya Megamall Management Sdn Bhd*
Berjaya Property Management Sdn Bhd*
Berjaya Racing Management Sdn Bhd*
Malaysia
Malaysia
Malaysia
100.0 100.0
100.0 100.0
60.0 60.0
Investment holding.
Property development.
Property investment.
Property management.
Charter and schedule flight
operator.
Property investment and
rental of property.
Facilities management services.
Property development and
investment and operator
of golf and recreation club.
Provision of security services.
Dormant.
Hotel and resort operator.
Management company for
Berjaya Praslin Beach Resort.
rental of properties.
investment holding.
Investment holding.
Investment holding and
trading.
Property management.
Investment holding.
Promotion and conduct of
horse racing, totalisators
and other related activities.
f - The total equity interests held by the Group is 82.4% and it is held by the following group companies
(i) Teras Mewah Sdn Bhd
63.20%
15.62%
3.25%
(iv) Espeetex Sdn Bhd
0.34%
126
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Berjaya Land Berhad (continued)
Berjaya Sports Toto Berhad*
Berjaya Theme Park Management Sdn Bhd
Berjaya Vacation Club Berhad*
Berjaya Watersports Sdn Bhd*
BL Capital Sdn Bhd*
B.T. Properties Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
51.0g 62.4
100.0 100.0
100.0 100.0
100.0 100.0
100.0 100.0
100.0 100.0
Budi Impian Sdn Bhd*
Bukit Kiara Resort Berhad*
Malaysia
Malaysia
100.0 100.0
100.0 100.0
Bumisuchi Sdn Bhd*
Cempaka Properties Sdn Bhd*
Malaysia
Malaysia
100.0 100.0
100.0 100.0
Cerah Tropika Sdn Bhd*
Cergas Jati Sdn Bhd*
Dayadil Sdn Bhd*
Flexiwang Sdn Bhd*
Gateway Benefit Sdn Bhd*
Gemilang Cergas Sdn Bhd*
Immediate Capital Sdn Bhd*
Indah Corporation Berhad*
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
51.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
51.0
100.0
100.0
100.0
100.0
100.0
100.0
Ishandal Sdn Bhd*
Junjung Delima Sdn Bhd*
Klasik Mewah Sdn Bhd*
Kota Raya Development Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Leisure World Sdn Bhd*
New Pantai Expressway Sdn Bhd*
(formerly known as Maxtro
Engineering Sdn Bhd)
Nada Embun Sdn Bhd*
Noble Circle (M) Sdn Bhd*
Malaysia
Malaysia
100.0 100.0
96.7
-
Malaysia
Malaysia
100.0 100.0
100.0 100.0
Nural Enterprise Sdn Bhd*
Malaysia
100.0 100.0
Investment holding.
Management of theme park.
Time sharing vacation operator.
Dormant.
Investment holding.
management.
Dormant.
Developer and operator of
equestrian and recreational club.
Investment holding.
investment.
Investment holding.
Investment holding.
Operator of food court.
Investment holding.
Investment holding.
Developer and operator of
golf resort and property
development.
Investment holding.
Resort development.
Investment and rental of
property.
Dormant.
Design, construct, operation
and maintenance of the
New Pantai Highway.
property.
property.
g - The total equity interests held by the Berjaya Land Berhad group is 51.0% and it is held by the
following group companies
(i) Gateway Benefit Sdn Bhd
27.90%
(ii) Berjaya Land Berhad
15.83%
(iii) Immediate Capital Sdn Bhd
7.25%
(iv) Berjaya Land Development Sdn Bhd
0.04%
The total equity interests held by the Group is 51.9% and the additional equity interest are held by the
following group companies
(i) Garima Holdings Sdn Bhd
0.60%
0.16%
(iii) Espeetex Sdn Bhd
0.14%
(iv) Berjaya Group Equity (Cayman) Limited
0.03%
127
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Berjaya Land Berhad (continued)
Pakar Angsana Sdn Bhd*
Pearl Crescent Sdn Bhd*
Pelangi Istimewa Sdn Bhd*
Pembinaan Stepro Sdn Bhd*
Punca Damai Sdn Bhd*
Regnis Industries (Malaysia) Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
80.0
100.0
100.0
100.0
100.0
52.5
80.0
100.0
100.0
100.0
100.0
52.5
Securiservices Sdn Bhd*
Semakin Sinar Sdn Bhd*
Semangat Cergas Sdn Bhd*
Sports Toto Bowling Sdn Bhd*
Sports Toto (Fiji) Ltd*
Stephens Properties Holdings Sdn Bhd*
Stephens Properties Plantations Sdn Bhd*
Stepro Software Services Sdn Bhd*
Sundowners Holdings Sdn Bhd*
Tekun Permata Sdn Bhd*
Tioman Island Resort Berhad*
Malaysia
Malaysia
Malaysia
Malaysia
Republic of Fiji
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
100.0
51.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
80.0
100.0
51.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
80.0
Tioman Pearl Sdn Bhd*
Malaysia
70.0 70.0
Tiram Jaya Sdn Bhd*
Wangsa Sejati Sdn Bhd*
Wisma Stephens Management
Co Sdn Bhd*
Malaysia
Malaysia
Malaysia
100.0 100.0
52.6 52.6
100.0 100.0
Dormant.
Dormant.
rental of property.
Dormant.
Bowling alley operator.
Investment holding.
Dormant.
Dormant.
Dormant.
Dormant.
operator of resort hotel.
Development of hotel
and resort.
Dormant.
Investment holding.
Subsidiary of Berjaya Holiday Cruise Sdn Bhd
Universal Summit Limited*
British
Virgin Islands
Subsidiaries of Berjaya Hotels and Resorts (Mauritius) Ltd
Berjaya Casino Limited*
Berjaya Services Limited*
Mauritius
Mauritius
100.0 100.0 Casino operation.
100.0 100.0 Provision of limousine services.
Subsidiaries of Berjaya Land Development Sdn Bhd
Indra Ehsan Sdn Bhd*
Kim Rim Enterprise Sdn Bhd*
Selat Makmur Sdn Bhd*
Sri Panglima Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Subsidiaries of Berjaya Leisure (Cayman) Limited
128
Berjaya Leisure Enterprise (Cayman)
Cayman Islands 51.0 51.0
Limited
Berjaya International Casino Management Republic of
60.0 60.0
(Seychelles) Limited*
Seychelles
Berjaya Mount Royal Beach Hotel Limited* Sri Lanka
92.6 92.6
Berjaya Properties (HK) Limited*
Hong Kong
60.0 60.0
Berjaya Theme Parks (HK) Limited*
Hong Kong
60.0 60.0
Berjaya World (HK) Limited*
Hong Kong
51.0 51.0
Inter-Pacific Acquisition Corp
United States
- 100.0
of America
Natural Gain Investments Limited#
Hong Kong
100.0 100.0
Sports Toto (USA) Inc
United States
- 100.0
of America
Investment holding.
Casino operators.
Owner and operator of hotel.
Dormant.
Dormant.
Dormant.
Dormant.
Dormant.
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiaries of Berjaya Property Management Sdn Bhd
KDE Recreation Berhad
Malaysia
51.0 51.0
Taman TAR Development Sdn Bhd*
Malaysia
Developer and operator of golf
and recreational club.
Cayman Islands
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
Malaysia
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
51.5
-
Management of social lottery
operation and investment
holding.
68.5
-
Investment holding.
Philippines
100.0
-
Leasing of on-line lottery
equipment and accessories.
Malaysia
Subsidiaries of Berjaya Sports Toto Berhad
Berjaya Sports Toto (Cayman) Limited
Berjaya Wellesley Hotel Sdn Bhd*
FEAB Equities Sdn Bhd*
FEAB Industries Sdn Bhd*
FEAB Land Sdn Bhd*
FEAB Properties Sdn Bhd*
Magna Mahsuri Sdn Bhd*
Sports Toto Malaysia Sdn Bhd*
Investment holding.
Dormant.
Dormant.
Dormant.
Toto betting operations.
Subsidiary of Berjaya Sports Toto (Cayman) Limited
Berjaya Lottery Management (HK)
Limitedª
Hong Kong
Subsidiary of Berjaya Lottery Management (HK) Limited
Prime Gaming Philippines, Inc*
Philippines
Subsidiary of Prime Gaming Philippines Inc.
Corporation*
Subsidiary of FEAB Land Sdn Bhd
FEAB Realty Sdn Bhd*
Subsidiaries of Sports Toto Malaysia Sdn Bhd
Sports Toto Apparel Sdn Bhd*
Sports Toto Computer Sdn Bhd*
Sports Toto Products Sdn Bhd*
Malaysia
Malaysia
Malaysia
100.0 100.0 Dormant.
100.0 100.0 Dormant.
100.0 100.0 Trading in sports equipment
and related products.
Subsidiaries of Berjaya Vacation Club Berhad
Berjaya Beau Vallon Bay(Cayman) Limited* Cayman Islands
Berjaya Hospitality Services Sdn Bhd*
Malaysia
Berjaya Hotels & Resorts (HK) Limited* Hong Kong
Berjaya International Casino Management Hong Kong
(HK) Limited*
Berjaya Langkawi Beach Resort Sdn Bhd* Malaysia
Berjaya Mahe Beach (Cayman) Limited*
Cayman Islands
Berjaya Praslin Beach (Cayman) Limited* Cayman Islands
Berjaya Redang Beach Resort Sdn Bhd*
Malaysia
Berjaya Resort Management
Malaysia
Services Sdn Bhd*
Berjaya Resort (Sabah) Sdn Bhd*
Malaysia
Berjaya Vacation Club (Cayman) Limited* Cayman Islands
Berjaya Vacation Club (Philippines) Inc*
Philippines
Dian Kristal Sdn Bhd*
Redang Village Resort Sdn Bhd*
Sinar Merdu Sdn Bhd*
Malaysia
Malaysia
Malaysia
100.0
100.0
60.0
80.0
100.0
100.0
60.0
80.0
Investment holding.
Management of hotel services.
Investment holding.
Investment holding.
100.0
100.0
100.0
99.4
100.0
100.0
100.0
100.0
99.4
100.0
Hotel and resort operation.
Investment holding.
Investment holding.
Hotel and resort operation.
Resort management.
100.0 100.0 Hotel operator.
100.0 100.0 Buying, selling and marketing
of vacation club memberships
under a time-sharing concept.
51.0 51.0 Resort development.
100.0 100.0 Investment and rental of
property.
129
Notes
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Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiary of Berjaya Beau Vallon Bay (Cayman) Limited
Berjaya Beau Vallon Bay Beach
Resort Limited*
Republic of
Seychelles
100.0 100.0 Hoteliers.
Subsidiaries of Berjaya Hotels & Resorts (HK) Limited
Berjaya Hotels & Resorts (Cayman)
Limited*
Berjaya Shenyang International
Golf Club Limited
Cayman Islands 100.0 100.0 Licence to recruit member
hotels under the Best
Western names and marks.
People’s Republic
- 60.0 Developer and operator of golf
of China
and recreational club.
Subsidiary of Berjaya Mahe Beach (Cayman) Limited
Berjaya Mahe Beach Resort Limited*
Republic of
Seychelles
100.0 100.0 Hoteliers.
Subsidiaries of Berjaya Redang Beach Resort Sdn Bhd
Redang Island Golf and Country
Club Berhad*
Redang Island Resort (S) Pte Ltd *
Malaysia
Redang Travel & Tours Sdn Bhd*
Malaysia
Singapore
100.0 100.0 Operator of golf and
recreational club.
100.0 100.0 Marketing agent of golf and
recreational club.
100.0 100.0 Dormant.
Subsidiaries of Berjaya Vacation Club (Cayman) Limited
Berjaya Vacation Club (Japan) Limited*
Berjaya Vacation Resort (S) Pte Ltd*
Berjaya Vacation Club (UK) Limited*
Japan
100.0 100.0 Dormant.
Singapore
100.0 100.0 Dormant.
United Kingdom 100.0 100.0 Hoteliers.
Subsidiary of Bumisuchi Sdn Bhd
Sempurna Bahagia Sdn Bhd *
Malaysia
66.7
Subsidiary of Cerah Tropika Sdn Bhd
Penstate Corp Sdn Bhd*
Malaysia
Malaysia
Malaysia
Malaysia
Subsidiary of Dayadil Sdn Bhd
Imej Jasa Sdn Bhd*
Subsidiaries of Imej Jasa Sdn Bhd
Bahagia Jiwa Sdn Bhd*
Muara Tebas Sdn Bhd*
Subsidiary of Kota Raya Development Sdn Bhd
Kota Raya Complex Management Sdn Bhd* Malaysia
100.0 100.0 Property management.
Subsidiary of Noble Circle (M) Sdn Bhd
Noble Circle Management Sdn Bhd*
Malaysia
100.0 100.0 Property management.
Malaysia
100.0 100.0 Property management .
Republic
of Fiji
100.0 100.0 Developer and operator
of hotel.
Subsidiary of Nural Enterprise Sdn Bhd
Aras Klasik Sdn Bhd*
Subsidiary of Sports Toto (Fiji) Limited
Waidroka Trust Estates Limited*
Subsidiary of Wisma Stephens Management Co Sdn Bhd
Wujud Jaya Sdn Bhd*
130
Malaysia
Notes
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36
Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Subsidiary of Wujud Jaya Sdn Bhd
Wujud Jaya Development Sdn Bhd*
Malaysia
Subsidiaries of Tioman Island Resort Berhad
Berjaya Hotels & Resorts
(Singapore) Pte Ltd*
Tioman Golf Management Sdn Bhd*
Tioman Recreation Centre Sdn Bhd*
Singapore
100.0 100.0 Hotel booking and
marketing agent.
Malaysia
100.0 100.0 Management of golf course.
Malaysia
100.0 100.0 Management of recreation and
sports club.
Tioman Travel & Tours Sdn Bhd*
Malaysia
100.0 100.0 Hire of boats, launches and
recreational activities.
* Subsidiaries not audited by Arthur Andersen & Co., Malaysia.
# Subsidiaries audited by affiliates of Arthur Andersen & Co., Malaysia.
A S S O C I AT E D C O M PA N I E S :
Associates of the Company
BHLB Pacific Trust Management Berhad
Berjaya Racing Management Sdn Bhd
Malaysia
Malaysia
Hyumal Motor Sdn Bhd
Malaysia
Diversified Gain Sdn Bhd
Industri Otomotif Komersial (M) Sdn Bhd
Malaysia
Malaysia
IRIS Technologies (M) Sdn Bhd
Malaysia
Le Proton LIMA Sdn Bhd
Malaysia
Quasar Carriage Sdn Bhd
Malaysia
Tunas Cempaka Sdn Bhd
Malaysia
20.0 20.0 Management of unit trust.
20.0 20.0 Promotion and conduct of
horse racing, totalisators
and other related activities.
20.0 20.0 Marketing and distribution of
Hyundai motor vehicles.
35.0 35.0 Manufacture and marketing
of Malaysian national
commercial vehicle.
- 35.0 Smartcard design and
manufacturing.
40.0 40.0 Organise trade fairs to promote
Malaysian products through
exhibitions.
30.0 29.0 Distribution of RENAULT
heavy trucks, passenger cars
and light commercial vehicles.
49.0 49.0 Duty free shop operator.
Malaysia
40.0 40.0 Money broking.
Associate of Berjaya Capital Berhad
First Taz Money Brokers Sdn Bhd
(formerly known as Pyemas Sdn Bhd)
Associates of Berjaya Group (Cayman) Limited
Berjaya Engineering &
Construction (HK) Limited
Berjaya Lottery Management
(HK) Limited
Berjaya Holdings (HK) Limited
Hong Kong
Hong Kong
Hong Kong
40.0 40.0 Engineering and
construction.
48.5 50.0 Management of social
lottery operations and
investment holding.
37.6h 37.6 Investment holding.
h - The total equity interests held by the Group is 44.4% and it is held by the following group companies
(i) Berjaya Group (Cayman) Limited
37.60%
(ii) Berjaya Leisure (Cayman) Limited
6.80%
131
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
36
Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Associates of Berjaya Group (Cayman) Limited (continued)
Berjaya Hotels & Resorts (HK) Limited
Berjaya Properties (HK) Limited
Berjaya Theme Parks (HK) Limited
Management (HK) Limited
Procare (Asia-Pacific) Pte Ltd
Hong Kong
Hong Kong
Hong Kong
Hong Kong
40.0
40.0
40.0
20.0
40.0
40.0
40.0
20.0
Singapore
47.0 40.0
Investment holding.
Dormant.
Dormant.
Management of casino and
investment holding.
Development and
marketing of software in
the healthcare industry.
Associates of Berjaya Group Equity (Cayman) Limited
East Coast Bagel Co. Inc.
Mario Andretti’s Express Pasta & Co
Limited
United States
of America
United States
of America
31.1 31.1
Restaurant operator.
30.0 30.0
Dormant.
50.0 50.0
50.0
-
Investment holding.
Provision of management
services.
40.0 40.0
Sports event organiser.
38.5 36.6
Manufacturer and distributor
of computerised lottery
systems.
Leasing of on-line lottery
equipment and accessories.
Provision of management
consultancy services to
lottery operations.
Dormant.
Associates of Berjaya Group (Aust) Pty Ltd
Advance Medical Technology Pty Limited Australia
Gribbles Services Pty Ltd
Australia
Associate of Inter-Pacific Communications Sdn Bhd
First Cartel (M) Sdn Bhd
Malaysia
Associates of Berjaya Lottery Management (HK) Limited
International Lottery & Totalizator
Systems, Inc.
United States
of America
Corporation
U-Luck Information Systems Limited
Philippines
Taiwan
28.0 48.0
Taiwan Berjaya U-Luck Limited
Taiwan
26.0
Malaysia
25.0 25.0
Operator of self-service
carwash centres.
25.0 25.0
Operator of Kenny Rogers
Roasters Restaurants.
- 40.0
-
Associate of Carlovers International Limited
Berjaya Carlovers (M) Sdn Bhd
Associate of Roasters Asia Pacific (HK) Limited
Roasters Korea Co. Ltd
Republic
of Korea
Associate of Wireless Telecom Ltd
HFCL Satellite Communications Ltd
India
- 25.0
Telecommunications.
Associate of Berjaya Corporation (Cayman) Limited
M & A Investments Pte Ltd
Singapore
31.4 31.4
Investment holding.
Malaysia
Malaysia
50.0 50.0
30.0
-
Associates of Inai Jaya Sdn Bhd
Rare Output Sdn Bhd
Urusniaga Cemerlang Sdn Bhd
132
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
36
Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Associates of Cosway (M) Sdn Bhd
Beaute Distributors Sdn Bhd
Cosway (Overseas) Sdn Bhd
Malaysia
Malaysia
50.0 50.0
50.0 50.0
Trading in consumer products.
Dormant.
Thailand
Thailand
49.0 49.0
49.0 49.0
Investment holding.
Thailand
47.0 47.0
Associates of Cosway (Cayman) Ltd
Cosway Overseas Co Ltd
Cosway (Thailand) Co Ltd
Associate of Cosway Overseas Co Ltd
Cosway (Thailand) Co Ltd
Associate of Dunham-Bush International Limited
(formerly known as Dunham-Bush Air-Con Equipment (HK) Limited)
Top-Aire Air Conditioning (HK) Limited
Hong Kong
30.0 30.0
Dormant.
Mexico
50.0 50.0
Dormant.
Mexico
50.0 50.0
Dormant.
Malaysia
40.0 40.0
BJ Bowl Sdn Bhd
Malaysia
20.0 20.0
Centreplus Sdn Bhd
Flexiwang Sdn Bhd
Jaya Bowl Sdn Bhd
Malaysia
Malaysia
Malaysia
30.0 30.0
- 40.0
20.0 20.0
Natural Avenue Sdn Bhd
Palzon Sdn Bhd
Rentas Padu Sdn Bhd
Resort Cruises (S) Pte Ltd
Staffield Country Resort Berhad
Malaysia
Malaysia
Malaysia
Singapore
Malaysia
46.0 i
30.0
50.0
49.0
50.0
Manager and operator
of bowling alley.
Operator of food court.
Manager and operator
of bowling alley.
Investment holding.
Investment holding.
Transportation.
Developer and operator
of golf resort.
Associate of Dunham-Bush International (Cayman) Limited
Dunham-Bush De Mexico S.A. De C.V.
Associate of Dunham-Bush Inc
Dunham-Bush De Mexico S.A. De C.V.
Associate of Rank Distributors Sdn Bhd
Coswin (M) Sdn Bhd
Associates of Berjaya Land Berhad
30.0
30.0
50.0
49.0
50.0
Associates of Berjaya Leisure (Cayman) Limited
Asian Atlantic Holdings Limited
24.5 24.5
Investment holding.
Berjaya Asset (Cayman) Limited
Inter-Capital Holdings Pte Ltd
Navodaya Mass Entertainments Limited
British
Virgin Islands
Cayman Islands
Singapore
India
40.0 40.0
50.0 50.0
40.0 40.0
Portsworth Holdings Pte Ltd
World Square Pty Ltd
Singapore
Australia
50.0 50.0
37.5 37.5
Investment holding.
Investment holding.
Developer and operator
of theme park.
Investment holding.
i - The total equity interests held by the Group is 46.0% and it is held by the following group companies
(i) Berjaya Land Berhad
16.00%
(ii) Sempurna Bahagia Sdn Bhd
15.00%
(iii) Bahagia Jiwa Sdn Bhd
7.50%
(iv) Muara Tebas Sdn Bhd
7.50%
133
Notes
T
O
T
H
E
A
C
C
O
U
N
T
S
30 APRIL 1999
36
Name
Country of
incorporation
Equity
interest
held
1999 1998
%
%
Associates of Berjaya Vacation Club Berhad
Berjaya Butterworth Hotel (Penang)
Sdn Bhd
Berjaya Georgetown Hotel (Penang)
Sdn Bhd
Malaysia
30.0 30.0
Hotel developer.
Malaysia
50.0 50.0
Hotel owner and operator.
Malaysia
30.0 30.0
rental of property.
20.0 20.0
Hotel operation and
management.
Associate of BL Capital Sdn Bhd
Regnis Industries (Malaysia) Sdn Bhd
Associate of Berjaya Praslin Beach (Cayman) Limited
Anse Volbert Hotel Limited
Republic of
Seychelles
Associate of Berjaya International Casino Management (HK) Limited
Berjaya International Casino Management
(Seychelles) Limited
Republic of
Seychelles
40.0 40.0
Management of casino
and investment holding.
Malaysia
40.0 40.0
Dormant.
Malaysia
33.3 33.3
Investment holding.
Malaysia
Singapore
50.0 50.0
30.0 30.0
Ferry services.
Ferry services.
Associate of Indah Corporation Berhad
Jayawan Holdings Sdn Bhd
Associate of Ishandal Sdn Bhd
Sempurna Bahagia Sdn Bhd
Associates of Tioman Island Resort Berhad
Tioman Ferry Services Sdn Bhd
Tioman Island Resort Ferries (S) Pte Ltd
Associate of Wisma Stephens Management Co Sdn Bhd
Villa Genting Berhad
Malaysia
- 30.0
Property development
and management.
Malaysia
50.0 50.0
Dormant.
Berjaya Racing Management Sdn Bhd
Malaysia
20.0 20.0
Malaysian Lamps Sdn Bhd
Malaysia
20.0 20.0
Promotion and conduct of
horse racing, totalisators and
other related activities.
Dormant.
Associate of Sports Toto Properties Sdn Bhd
Staffield Marketing Services Sdn Bhd
Associates of Berjaya Sports Toto Berhad
Associates of Berjaya Sports Toto (Cayman) Limited
Berjaya Lottery Management (HK) Limited Hong Kong
Suncoast Limited
37
British Virgin
Islands
- 50.0
48.0 48.0
Management of social
lottery operations and
investment holding.
Investment holding.
CURRENCY
All amounts are stated in Ringgit Malaysia unless otherwise stated.
38
134
C O M PA R AT I V E F I G U R E S
Certain comparative figures have been reclassified to conform with current year’s presentation.
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 493 GM98 Mukim Hulu Kelang
Off Jalan Hulu Kelang
(Adjoining Taman Hillview)
Freehold
N/A
5
acres
12-01, Berjaya Star City
Jalan Imbi
Kuala Lumpur
Freehold
U/C
101,686
sq ft
Lot 1151 Grant No.5873
Section 57
32 Jalan Sultan Ismail
Kuala Lumpur
Freehold
12
9,924
sq ft
Commercial land
15,442
with 3-storey
commercial building
for rental (with
basement floor)
Lot PBT 1992 HS(D) 4868
Bandar Penggaram
Daerah Batu Pahat
Johor Darul Takzim
Freehold
N/A
1.75
acres
Land proposed
for commercial
complex (under
construction)
3,122
Lot 1369, Bandar Penggaram
Jalan Mohd Akil, Batu Pahat
Johor Darul Takzim
Freehold
N/A }
}
}
}
}
}
}
}
}
}
}
}
}
}
}
}
7
acres
Shop office &
commercial
complex (under
construction)
} 15,123
}
}
}
}
}
}
}
}
}
}
}
}
}
}
}
Title/Location
Lot 1368 HS(D) 18785
Bandar Penggaram
Daerah Batu Pahat
Johor Darul Takzim
Lot 764, 1446, 1447, 1575
Geran No. 13669, 18440
18445 & 18532
Bandar Penggaram
Daerah Batu Pahat
Johor Darul Takzim
Leasehold
99 years
expiring on
19/08/2083
Freehold
Size
Description /
Existing Use
Net Book
Value
RM‘000
Land for
residential
development
3,166
Commercial
office premises
48,996
Shop office &
commercial
complex (under
construction)
Shop office &
commercial
complex (under
construction)
Lot Nos. 1087, 1088 & 1089
Seksyen 57
Mukim & Daerah Kuala Lumpur
42-2, 42-2A, 42-2B, 42-2C
Jalan Sultan Ismail
Kuala Lumpur
Leasehold
99 years
expiring on
8/9/2069
>25
5,768
sq ft
4-storey
shop / office
building
for rental
13,001
Lot 6617, Deran 27045
Mukim Simpang Kanan
Daerah Batu Pahat
Johor Darul Takzim
(No. 160-3, Jalan Kluang
Batu Pahat, Johor Darul Takzim)
Freehold
11
12,056
sq ft
Land with
dwelling
house
198
Lot 2552, Grant No. 3327
Mukim Simpang Kanan
Daerah Batu Pahat
Johor Darul Takzim
(Lot 293, 3 miles, Jalan Kluang
Freehold
15
9
acres
Office and
factory
building
Land
3,943
135
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 6303 SM156, Lot 6304 SM155
Lot 6305 SM154, Lot 6306 SM153
Lot 6307 SM152, Lot 6308 SM157
Lot 6309 SM151
Mukim Tampin Tengah
Daerah Tampin, Bandar Tampin
Freehold
5
9,634
sq ft
Parcel No. V588, V589
V3699, V8369 & V8370
Beau Vallon Bay Beach
West Coast of Mahe Island
Seychelles
Freehold
23
10.0434
acres
Flat 19
1 Porchester Gate
Bayswater Road
London W2 3HN
United Kingdom
Long
leasehold
expiring in
year 2985
2
Lot 36A, HS(M) 2/1984
Mukim Sungai Seluang
Daerah Kulim
Kedah Darul Aman
(Lot 35A Kulim Industrial Estate)
Leasehold
99 years
expiring on
12/05/83
Lot 3, Lorong 2/1
Solok Hishammuddin 1
Kawasan Selat Klang Utama
Klang, Selangor Darul Ehsan
Title/Location
136
Size
Description /
Existing Use
7 units of
industrial
workshop
building
Net Book
Value
RM‘000
556
Beach
resort hotel
(184 rooms)
71,894
1,517
sq ft
Luxury
apartment
2,842
9
9
acres
Land with
a factory
building
6,283
Leasehold
expiring in
year 2084
12
5
acres
Warehouse
4,018
Lot 128 & 129
Sri Dagangan Kuantan Business Centre
Jalan Tun Ismail, Kuantan
Pahang Darul Makmur
Freehold
1
5,270
sq ft
Shoplot
for rental
1,620
13th, 14th & 15th Floor
Plaza Berjaya, Jalan Imbi
Kuala Lumpur
Freehold
12
21,209
sq ft
Office
premises
for rental
9,332
16th & 17th Floor
Kuala Lumpur
Freehold
12
16,114
sq ft
Office
premises
6,034
18th,19th & 20th Floor
Kuala Lumpur
Freehold
12
24,038
sq ft
Office
premises
9,073
Lot PT No.4792, 4793, 4794
4796, 4801, 4804, 4813, 4814
HS(D) No 81310, 81309, 81310
81311, 81315, 81318, 80322, 80323
Mukim Petaling, Kuala Lumpur
Freehold
N/A
265,472
sq m
Land
for mixed
development
66,878
Lot PT No.4805, 4806
HS(D) No 81319, 81320
Freehold
6
594,186.885
sq m
Club house and
golf house
104,997
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot PT No.4797, 4800, 4802
4803, 4811, HS(D) No 81312
813214, 81316, 81317, 81321
Freehold
N/A
83,061
sq m
Land for
mixed
development
19,839
Lot 46-56 Section 88A
Lot 112-115, 120 Section 43
Wilayah Persekutuan
Freehold
N/A
192,549
sq m
Land for
mixed
development
146,521
CL 015405428 / 105405437
CL 015405446 / 015405455
CL 015405491 / 105405508
Lot 4,5,6,7,11 & 12
CL 015438632 Lot 9
Gaya Island, Sabah
Leasehold
99 years
expiring on
31/12/2078
expiring on
31/12/2079
N/A
18.5
acres
Resort land
NT 76054 (7605)
6397 & 6395
Lot 107, 74 & 72
NT 013063968 (6396) Lot 73
Gaya Island, Sabah
Leasehold
99 years
expiring on
1/7/78
expiring on
31/12/2091
N/A
18.48
acres
Resort land
Lot G69 & G70 Centre Point
Kota Kinabalu Sabah
Leasehold
99 years
expiring on
14/12/2000
12
G69442.24 sq ft
G70484.74 sq ft
Le Morne
South-West Coast of Mauritius
Mauritius
Leasehold
60 years
expiring in
year 2050
4
14.9
acres
Beach hotel
and casino
(200 guest
rooms)
76,714
Lot PT 101900, 101901, 101903-101908
HS(D) KA 4991,4992, 4994-4999
Mukim of Hulu Kinta
Daerah Kinta, Perak Darul Ridzuan
(Lot 60,61,63-68
IGB International Park
Jalan Kuala Kangsar, Ipoh
Perak Darul Ridzuan)
Leasehold
expiring on
17/10/2089
N/A
19.11
acres
Industrial
land for
rental
4,628
Parent Lot 264, Title No. GM 2256
Section 98, Kuala Lumpur
Wilayah Persekutuan
(No. 133 Indah UPC, 3 1/2 miles
Jalan Klang Lama, Kuala Lumpur)
Freehold
10
2,454
sq ft
Land with a
4 1/2-storey
shophouse
for rental
702
Lot 470 HS(D) 38111
Wilayah Persekutuan
(60, Jalan Taman Seputeh Satu
Taman Seputeh, Kuala Lumpur)
Freehold
22
2,250
sq ft
Land with
a 2-storey
linked house
for rental
119
Lot 93 & 94
Geran No. 4470 & 4471
Daerah Melaka Tengah
Kawasan Bandar 1, Melaka
(No. 481 Jalan Tengkera, Melaka)
Freehold
11
14,026
sq ft
1 unit of
3 1/2-storey
shophouse
for rental
942
Title/Location
Size
Net Book
Value
RM‘000
Description /
Existing Use
Shoplots
for rental
}
}
}
}
}
}
}
}
}
}
}
}
}
2,588
821
137
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 2829, GM308
Mukim Simpang Kanan
Batu Pahat, Johor Darul Takzim
Freehold
N/A
9,500
sq ft
Land with
3 tube
wells
71
Lot 228, Grant 14953
Kota Tinggi, Johor Darul Takzim
(Taman Medan Indah
Kota Tinggi, Johor Darul Takzim)
Freehold
N/A
6.5
acres
Shophouses/
Commercial
complex
for sale
766
Mukim Simpang Kanan
Daerah Batu Pahat
Johor Darul Takzim
(Banang Estate)
Freehold
N/A
40.4371
acres
Land with
residential
& commercial
development
4,708
Lot 5593, EMR 4282
Mukim Sri Gading, Off 94km JB
Batu Pahat Main Road
(Taman UPC, Air Hitam)
Freehold
N/A
9.72
acres
Land for
mixed
development
361
Lot 7448 Mukim Sri Gading
Johor Darul Takzim
(Taman UPC, Air Hitam)
Freehold
N/A
18.36
acres
Vacant
residential
& commercial
development
land
948
Lot 6010-6019, Taman UPC
(excld. Lot 6015) Air Hitam
Johor Darul Takzim
Freehold
13
13,860
sq ft
9 units of
shophouse for
sale or rental
1,002
PTD 6268, HSD 18755
Air Hitam, Johor Darul Takzim
Freehold
N/A
17,488
sq ft
Petrol kiosk
612
PT 22882, Banang Jaya
Batu Pahat
Johor Darul Takzim
Freehold
6
3,850
sq ft
Single
storey terrace
residential
house for sale
or rental
93
Lot 22614-22618, Geran 912-916
Kuala Lumpur
(44-52 Jalan Maarof, Bangsar Baru
Kuala Lumpur)
Freehold
9
10,242
sq ft
5 units of
3-storey
shophouses /
offices
4,656
Lot 224 Section 98
Title GM 1200
Jalan Kelang Lama
Kuala Lumpur
(Gemilang Apartments &
Kelang Lama Business Park)
Freehold
7
2.56
acres
Condo / Shops /
Apartments
for sale
Condominium
Sold : 194 units
Unsold : 4 units
Shops
Sold : 62 units
Unsold : 1 units
Apartment
Sold : 20 units
Unsold : 10 units
2,716
Title/Location
138
Size
Description /
Existing Use
Net Book
Value
RM‘000
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 103, 104 & 105
GM 915, 1743 & 1166 Section 94
Robson Heights
Kuala Lumpur
Freehold
3
3.843
acres
Lot 47 Section 98
Geran 12677
Jalan Kelang Lama
Kuala Lumpur
(3rd mile, Jalan Kelang Lama
Kuala Lumpur)
Freehold
N/A
9,937.13
sq ft
Land proposed
for car park
adjacent to
Lot 224
Robson Heights
Kuala Lumpur
Lot 1886-1889 Section 94
Freehold
N/A
3.63125
acres
Vacant
land for
development
6,180
Lot 10, Subang Hi-Tech Industrial Park
Freehold
N/A
6.5309
acres
Vacant land
for rental
8,468
Lot 24225 & 24226
Banang Jaya, Phase 1A
Batu Pahat
Johor Darul Takzim
(No. 74 & 75, Jalan Gemilang)
Freehold
2
5,720
sq ft
2 units of
2-storey
shophouse
for office use
Lot PT278
Mukim Padang Matsirat
Daerah Langkawi
Pulau Langkawi
Kedah Darul Aman
Leasehold
expiring on
30/04/2054
6
70
acres
Land with 400
rooms chalets
and buildings
for resort
operations
29 & 31, Jalan TPP 3/17
Puchong, Seksyen 5
47100 Puchong
(Provisional Lots
SD-291 & SD-292)
Freehold
2
16,800
sq ft
Flat 54, Hyde Park Towers
London
United Kingdom
999 years
expiring on
01/01/2976
20
Flat 35, Bishops Courts , Bishops,
Porchester Terrace and Garage Bay 34
London, United Kingdom
125 years
expiring on
02/09/2113
Lot 2059 C, Lot 2061 C
Street 2, Fortune Hill Villas
Xi Zhen, Qiao Xing Da Dao
Xiao Lo Dong Lu Duan
Panyu, Guangdong Province
Guang Zhou
Leasehold
expiring in
year 2064
Title/Location
Size
Description /
Existing Use
Condominium
for sale
Block A
Sold : 115 units
Unsold : 23 units
Block B
Sold : 138 units
Unsold : 6 units
Net Book
Value
RM‘000
3,466
274
271
117,044
Land
with sales
& storing
purpose
2,074
Approximately
2,500
sq ft
Apartment
for investment
2,216
11
1,184
sq ft
Apartment
for investment
1,650
N/A
5,723
sq ft
2 units of
3-storey
bungalow
for rental
650
139
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Title/Location
Size
Net Book
Value
RM‘000
Description /
Existing Use
Lot 68, No. 99, Chen Du Shi
Ren Min Nan Ru
Shi Tuan
Jin Xiu Hua Yuan
Cheng Du
Leasehold
expiring in
year 2065
N/A
3,500
sq ft
1 unit
2-storey
bungalow for
office and
staff quarters
973
Lot 163 & Lot 164
Bei Guang Bie Shu Cu
San Chi
Su Zhou
Leasehold
expiring in
year 2067
N/A
7,930
sq ft
2 units
bungalow for
office and
staff quarters
315
Parcel J141 & J1530
Situated at Port Glaud
South East Coast of Mahe Island
Seychelles
Freehold
12
18.4557
acres
36 College Avenue
Mount Lavinia
Sri Lanka
Freehold
13
1.2
acres
Beach resort
hotel
(90 rooms)
1,333
No. 36/4, 36/5 & 36
De Saram Road
Mount Lavinia
Sri Lanka
Freehold
13
0.955
acre
Beach
resort
hotel
5,853
GM 1 Lot 1, GM 2 Lot 2
GM 3 Lot 128, GM 4 Lot 129
GM 126 Lot 3, Lot 213 Geran 6440
& Lot 4 Geran 6615
Redang Island
Terengganu Darul Naim
Freehold
N/A
54.35
acres
Land for
development
of resort
GM PN 1384
Lot 5Leasehold
expiring in
year 2067
GM PN 1339
Lot 212
Leasehold
expiring in
year 2070
N/A
2.12
acres
Land for
development
of resort
PT 289K-293K
Teluk Dalam & Teluk Siang
Redang Island
Freehold
>3
655
acres
Beach
resort
(252 rooms)
104,450
No. 41,41-1,41-2
Jalan 11/34A
Kepong Enterpreneurs Park
Jalan Kepong, Kuala Lumpur
Leasehold
99 years
expiring on
10/01/2087
11
2,848
sq ft
3-storey
terrace
shophouse
for storage
purposes
401
CL No: 015098745
Kota Kinabalu, Sabah
(Berjaya Palace Hotel)
Leasehold
expiring in
year 2098
12
1.52
acres
Hotel building
(160 guest
rooms)
GM PN 1384 Lot 5 &
GM PN 1339 Lot 212
Redang Island
140
Tenure
Estimated
Age of
Buildings
(Years)
Beach hotel (173
52,799
guest rooms inclusive
of 6 suites and
1 presidential suite)
}
}
}
}
}
}
}
}
}
}
}
}
}
}
}
}
}
53,722
24,595
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Title/Location
Tenure
Estimated
Age of
Buildings
(Years)
Size
Part of TL 1843
Kota Kinabalu, Sabah
(Berjaya Palace Hotel)
Leasehold
expiring in
year 2065
N/A
40,075.2
sq ft
2, Jalan Telawi 5
Bangsar Baru
59100 Kuala Lumpur
Freehold
9
42, 42A, 42B, 42C
Lot 1085, Jalan Sultan Ismail
50250 Kuala Lumpur
Leasehold
expiring on
8/9/2069
42-1, 42-1A, 42-1B, 42-1C
Lot 1085, Jalan Sultan Ismail
50250 Kuala Lumpur
Pajakan Negeri 6485, P.T. 6, Sek 27
Mukim Petaling Jaya
(No. 48, Jalan Utara
Petaling Jaya)
Description /
Existing Use
Net Book
Value
RM‘000
Carpark
of hotel
2,184
3,113
sq ft
1 unit of
shophouse
for use as
restaurant
3,113
27
1,500
sq ft
1 unit of
shophouse
for use as
restaurant
2,559
Leasehold
expiring on
08/09/2069
27
1,500
sq ft
42-1 and 42-1Arestaurant
42-1B and 42-1Crented out
2,559
Leasehold
expiring on
10/04/2060
N/A
5,136
sq ft
Vacant
bungalow
3,390
Lot G61-G67, Grd Floor
Bayan Shopping Mall
Bayan Bay
Pulau Pinang
Freehold
U/C
3,123
sq ft
7 units of
shop lot
for use as
restaurants
2,389
PT 2526 HS(D) 7653
(Lot 1328 & Lot 4329)
3th Milestone
Jalan Kluang
83000 Batu Pahat
Johor Darul Takzim
Freehold
25
3R.
34.5P
Land
together
with office
building
(Soutex I)
493
Lot 2939
Geran 21858
5th Milestone
Jalan Kluang
83000 Batu Pahat
Johor Darul Takzim
Freehold
23
15
acres
Land
together
with office
& factory
building
(Soutex II)
5,369
Lot 2939
Geran 21858
5th Milestone
Jalan Kluang
83000 Batu Pahat
Johor Darul Takzim
Freehold
19
-
New
factory
building
(Soutex III)
2,768
Lot 4668 CT 2290
No.119 Jalan Kluang
Batu Pahat
Johor Darul Takzim
Freehold
10
0.7
acre
Land together
with residential
use (staff
quarters)
699
141
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Size
Lot 3221 PTD 16156
HS(D) 17881 & 17882
No.3 & 4 Jalan Keris
Taman Pasifik Selatan
Batu Pahat
Johor Darul Takzim
Freehold
10
-
2 units
shophouse
for rental
403
35/39 Inverness Terrace
1-4 Inverness Place
London, Uinted Kingdom
Freehold
N/A
Approximately
40,000
sq ft
Hotel
building
(137 rooms)
49,169
Unit #04-05, 06, 09-12, 12A
Menara Greenview, Pulau Pinang
Freehold
>7
711.39
sq m
Holiday
accommodation
for members
1,063
Unit # C 145, 146, 158, 170, 171
179, 199, 600-608, 702, 703
Kuala Lumpur Plaza Condominium
Jalan Bukit Bintang, Kuala Lumpur
Freehold
12
25,994
sq ft
Holiday
accommodation
for members
7,465
Parcel 3.2 Type A Block D 3rd Floor
Kemang Indah Condominium
Port Dickson
Freehold
>7
530
sq ft
Holiday
accommodation
for members
89
Leasehold
expiring on
5/10/2076
<3
30,250
sq ft
Holiday
accommodation
for mernbers
3,147
Freehold
>17
#4555:
1,258 sq ft
#2/12:
835 sq ft
#2/20:
835 sq ft
#3583:
1,258 sq ft
Holiday
accommodation
for members
1,347
Unit #A3-3, A5-2, A5-7, 3A-3
#C2-15, 16, 17, 18, #C3-3, 8
#C5-2, 7, Meranti Park
Bukit Tinggi
Pahang Darul Makmur
Leasehold
expiring in
year 2094
N/A
10,150
sq ft
Holiday
accommodation
for members
(under
construction)
811
Part of PT No 12183
HS(D) 11008, Mukim and
District of Bentong
Pahang Darul Makmur
Leasehold
expiring on
01/08/2092
N/A
56.02
acres
Vacant
commercial
land
16,631
Freehold
10
Land:
380,447
sq ft
Building:
212,221
sq ft
Land with
factory
12,705
Title/Location
Unit #A1/A2/A3/A3A/
B2/B3/B3A-1, 2, 3, 5, 6, 7
#C2/C3-2, 3, 5, 6 (50 units)
Tioman Horizon Condotel
Tioman Island
Pahang Darul Makmur
Unit #4555, Unit #2/12
Unit #2/20, 3583
Awana Condominium
Genting Highlands
Pahang Darul Makmur
Tuanku Jaafar Industrial Estate
71450 Sungai Gadut
Seremban
142
Description /
Existing Use
Net Book
Value
RM‘000
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Title/Location
Tenure
Estimated
Age of
Buildings
(Years)
Size
Description /
Existing Use
Net Book
Value
RM‘000
No. 2 Jalan 13/1 Seksyen 13
46200 Petaling Jaya
Leasehold
99 years
expiring on
06/01/2060
7
205,847
sq ft
Land with
3- storey
office and
warehouse
11,635
Portion of parent lot :PT3301, Lot 879 &
part of lots 880 & 35329
Mukim of Kuala Lumpur
(District of Wilayah Persekutuan)
(Bukit Kiara Equestrian &
Country Resort, Jalan Bkt Kiara
Kuala Lumpur)
Leasehold
70 years
expired on
24/03/2159
7
69.845
acres
Equestrian
& country
resort and
polo field
59,982
Lot 102
No.394 Bukit Bendera
Pulau Pinang
(Title 27853)
Freehold
N/A
12.5
acres
Land for
development
of Hill Resort
Project
9,433
Lot 000925 TS10 North East District
HS(D) Section 10
Georgetown
Pulau Pinang
No. 86, Kajang Road
10150 Pulau Pinang
Freehold
7
1,819
sq ft
Land with
3-storey
shophouse
PT 33018, 32863, 32878
32850-32862
PT 32864-32876
Mukim Kuala Kuantan
Kuantan
Pahang Darul Makmur
Freehold
N/A
6.43
acres
Land for
commercial
development
9,718
PT 32760-32773
32774-32789, 32819-32849
Mukim Kuala Kuantan
Kuantan
Pahang Darul Makmur
Freehold
N/A
2.2
acres
Land for
residential &
commercial
development
3,941
PT 32921, 32922
Mukim Kuala Kuantan
Kuantan
Pahang Darul Makmur
Freehold
1
5.46
acres
Shopping mall
for rental
127,770
Lot 5202 Ct 5755
Mukim Kuala Kuantan
(Sri Dagangan Kuantan)
Jalan Tun Ismail, Kuantan
Pahang Darul Makmur
Freehold
N/A
45.66
acres
Land for
development
10,483
Lot 67 Geran 11506 Section 5
Georgetown
North East District
Off Jalan Mesjid Negeri, Pulau Pinang
(Menara Greenview)
Freehold
N/A
343,852
sq ft
Condominium
Sold : 224
Unsold : 12
2,456
195
143
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 3454 GM (First Grade)
248 Mukim 13, Jalan Sungei Dua
North East District, Pulau Pinang
(Desa University)
Freehold
N/A
4.95
acres
Condominium
Sold : 145
Unsold : 3
1,134
Lot 1861 GM 9185
Lot 24, 25, 905, 927, 1241
EMR 8, 9, 890, 905, 1212
Mukim Beserah
Kuantan, Pahang Darul Makmur
Freehold
N/A
23.31
acres
Land for
development
2,843
No 9 & 10, Storey 2
Block D, Greenlane Heights
Pulau Pinang
Leasehold
99 years
expiring in
year 2095
4
2,590
sq ft
Retail lots /
Stockist &
redemption
centre
711
No 11, Storey 2
Block D, Greenlane Heights
Pulau Pinang
Leasehold
99 years
expiring in
year 2095
4
2,055
sq ft
Retail lot /
Stockist &
redemption
centre
547
Plot 4, Jalan Ng Weng Hup
Taman Pertama, Ipoh
Perak Darul Ridzuan
Leasehold
99 years
expiring in
year 2094
3
1,755
sq ft
Land with 2-storey
243
commercial shoplotstockist & redemption
centre
29 Jalan Manis 4
Taman Segar, Kuala Lumpur
Leasehold
expiring in
year 2077
21
1,539
sq ft
Single storey
shophouse - stockist
& training centre
Bandar Baru Permas Jaya
Johor Bahru
Johor Darul Takzim
PTD : 100315, PTD : 100453
PTD : 100454, PTD : 100456
PTD : 100457
Freehold
3
2,624 sq ft
1,920 sq ft
1,920 sq ft
1,920 sq ft
2,624 sq ft
Lot 4, Jalan Damai Off Km 5
Jalan Tuaran, Kota Kinabalu
Sabah
Leasehold
expiring in
year 2072
26
1,336
sq ft
Land with 3-storey
shophouse - stockist
& redemption centre
Lot PTB 4544
Kim’s Park Business Centre
Freehold
1
1,650
sq ft
3-storey shop offices - 901
stockist & redemption
centre
Lot 3, Block C1
Bukit Jelutong Industrial Park
Shah Alam, Selangor Darul Ehsan
Freehold
U/C
174,420
sq ft
Lot S10, MWE Kepong
Commercial Park, 21, Jalan 2-33B
Kuala Lumpur
Leasehold
expiring in
year 2023
36
1,600
sq ft
4-storey shop office - 1,029
centre
Sublot 1186 of Lot 90
Block 9 MCLD
Mini Waterfront Business Centre
Jalan Bendahari, Miri
Sarawak
Leasehold
expiring in
year 2052
7
1,356
sq ft
4-storey shop office 886
centre
Title/Location
144
Size
Description /
Existing Use
4-storey
shop officestockist &
redemption
centre
Industrial land - for
construction of
warehouse complex
Net Book
Value
RM‘000
654
5,238
473
12,160
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Apartmento-R.Cauaxi
152-ap. 1304-Barueri
Sao Paolo
Brazil
Freehold
Loja 1-Pavimento
R. Rio Grande do Norte 919
Balo Horizonie-MG
Brazil
Net Book
Value
RM‘000
Size
Description /
Existing Use
26
2,965
sq ft
Residential
apartment
Freehold
26
4,495
sq ft
Single storey
shophouse /
Stockist centre
1,432
Lot 3, 4 and 5
R. Sao Paulo 144-Barueri
Sao Paolo
Brazil
Freehold
26
94,852
sq ft
Single storey
industrial building /
Warehouse &
office complex
10,379
Loja 12-Tenco-Blcco D
Quadra 716-Asa Norto
Setor Com/Resie. Norie
Brasilia
Brazil
Freehold
26
8,383
sq ft
2-storey
shophouse /
Stockist centre
1,306
Berjaya Star City
No.1 Jalan Imbi
Kuala Lumpur
Freehold
U/C
117,328
sq ft
338 units
of service
suites (under
construction)
62,532
No 9, Puncak Ria Lima MK 17
Batu Ferringhi
11100 Pulau Pinang
Freehold
7
2,422
sq ft
3- storey
town house
for rental
321
81-16-2 Puncak Ria Lima MK 17
Batu Ferringhi
11100 Pulau Pinang
Freehold
6
2,325
sq ft
Condominium
for rental
307
81-16-7 Puncak Ria Lima MK 17
Batu Ferringhi
11100 Pulau Pinang
Freehold
5
2,325
sq ft
Condominium
for rental
326
101 Burgess Road
Harrisonburg
Virginia, USA
Freehold
34
Land:
39.78
acres
Building:
573,264
sq ft
Land with
factory
building
cum
office and
warehouse
37,531
Lot 6 & 8, Kidamai Industrial Park
Mukim 6, 43600 Kajang
Freehold
1
Land:
11.84
acres
Building:
200,392
sq ft
Industrial land
with factory
building cum
office and
warehouse
34,975
No. C402 to C420 (19 Units)
Lot 6750 & Lot 6559
Taman Kajang Utama
43000 Kajang
Freehold
4
592
sq ft
each
Title/Location
Low cost
flats
for staff
quarters
636
505
145
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Title/Location
146
Tenure
Estimated
Age of
Buildings
(Years)
Size
Description /
Existing Use
Net Book
Value
RM‘000
Lots 6, 8, 10 Jalan P/7
Kaw. Perusahaan Bangi
Lot 43650 Bandar Baru Bangi
Leasehold
expiring on
Lot 6:
16/10/2019
Lot 8 & 10:
25/02/2018
11
Land:
3 acres
Building:
88,921
sq ft
Industrial
land with
factory
building cum
office and
warehouse
2,321
Lot 12, Jalan P/7
Leasehold
expiring on
29/09/2086
7
Land:
1 acre
Building:
82,936
sq ft
Industrial land
with factory
building cum
office and
warehouse
6,870
Lot 14, Jalan P/7
Leasehold
expiring on
29/09/2086
6
Land:
2.05 acres
Building:
112,332
sq ft
Industrial land
with factory
building cum
office and
warehouse
6,237
European Headquarters
Dowley Road,
Havant, Hampshire
England PO92JD
United Kingdom
Freehold
22
Land:
8.35 acres
Building:
107,219
sq ft
Land with
factory
building cum
office and
warehouse
18,749
Minyak Estate (5 lots)
Sungei Tinggi Estate (27 lots)
and Nigel Gardner &
Bukit Tagar Estate (6 lots)
Mukim of Sungei Tinggi
and Batang Berjuntai
District of Ulu Selangor
Kuala Selangor
Freehold
N/A
16,451
acres
Land for
development
774,283
Suite 804, 806, 808, 810
8th Floor Merlin Tower
Jalan Meldrum
80000 Johor Bahru
Johor Darul Takzim
Freehold
22
3,257
sq ft
Office lots /
Disaster
recovery
facility
centre
873
Suite 1001-1005, & 1010
10th Floor Merlin Tower
Jalan Meldrum
80000 Johor Bahru
Johor Darul Takzim
Freehold
22
5,341
sq ft
Office lots /
Archive
centre
1,566
95, Jalan Tun Abdul Razak
80000 Johor Bahru
Johor Darul Takzim
Freehold
12
Land:
21,964
sq ft
Building:
38,615
sq ft
Land with
5 1/2-storey
office
premises
17,668
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
PTD 24829 HS(D) 24658
Mukim Simpang Kanan
Daerah Batu Pahat
(Banang Jaya Estate, Johor)
Johor Darul Takzim
Freehold
N/A
57.1
acres
Land
for mixed
development
for rental /
vacant
Lot 174 TS 18
North East District, Pulau Pinang
(74,76 & 78 Rope Walk, Pulau Pinang)
Freehold
59
4,826
sq ft
3 units of 2-storey
shophouses
for rental
PTD 24828 HS(D) 24657
Mukim Simpang Kanan
Daerah Batu Pahat
Johor Darul Takzim
(Banang Jaya Estate, Johor)
Freehold
N/A
79.3
acres
Land for
mixed
development
13,115
EMR 2072, Lot 1291, GM 1576
Lot 1115, GM 1427
EMR 2759, Lot 2160, GM 1579
EMR 2760, Lot 2161, GM 545
Klang, Selangor Darul Ehsan
Freehold
7
9.375
acres
Land with
factory
building
2,925
Leasehold
99 years
expiring on
01/10/2084
3
29.94
acres
Land with
factory
building
6,965
Lot 3000 Mukim Petaling
District of Kuala Lumpur
Wilayah Persekutuan
Freehold
N/A
6.739
acres
Proposed for
development
of 408 apartments
354
Lot 706
Mukim of Rengam
Batu Pahat
Johor Darul Takzim
Freehold
N/A
6.018
acres
Land for
residential &
commercial
development
101
Banang Jaya Development
Mukim of Simpang Kanan
District of Batu Pahat
Johor Darul Takzim
Freehold
N/A
825.28
acres
Land for
mixed
development
34,828
Lot 1293 and 1294
QT(M) 29 & 30
Mukim of Machap
Johor Darul Takzim
Freehold
N/A
9.98
acres
Land held for
development
470
Lot 1295-1298
QT(M) 31-34
Mukim of Machap
Johor Darul Takzim
Freehold
N/A
19.98
acres
Land held for
development
880
Title/Location
Lot B HS(D) 20468 PT 6486
Mukim Petaling
(Lot 6486 Taman Medan
Petaling Jaya
Selangor Darul Ehsan)
Size
Description /
Existing Use
Net Book
Value
RM‘000
10,969
180
147
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Freehold
N/A
169.92
acres
Land held for
development
28,862
Leasehold
99 years
expiring on
12/04/2088
3
66.4
acres
Land for
residential &
commercial
development
34,495
Lot PT 6172, HS(D) 41626
Mukim of Sungai Buluh
District of Petaling Jaya
(40 Jalan SS21/35
Damansara Utama
Petaling Jaya)
Freehold
12
2,138
sq ft
3 1/2-storey
shophouse /
office
318
Lots 22612 & 22613
Geran Nos. 910 & 911
Mukim of Kuala Lumpur
Freehold
9
2,040
sq ft
2,095
sq ft
3-storey
shophouse /
office
1,667
40 Jalan 10/32
Taman Jinjang Baru
Kuala Lumpur
Leasehold
expiring in
year 2086
6
2,800
sq ft
2-storey light
industrial
building archive centre
7-0-8 Block B
Danau Business Centre
Jalan 3/1097, Tmn Danau Desa
58100 Kuala Lumpur
Leasehold
expiring in
year 2083
3
5,500
sq ft
4-storey
shop house
facility
centre
1,135
Lot 4924 (PT 11526)
Mukim of Hulu Kelang
District of Gombak
Taman Abdul Razak
Ampang Jaya
Leasehold
expiring on
17/06/2078
N/A
60
acres
Land for
development
4,485
Lot 4916 (PT 1927) &
5871 (PT 2055)
Mukim of Hulu Kelang
District of Gombak
Ampang Jaya
Leasehold
expiring on
17/06/2078
13
67.176
acres
Club house
and golf
course
45,658
Title/Location
PTD 21447-21463, PTD 21479-21943
PTD 27874, PTD 27880
PTD 27880A, PTD 29714-29716
PTD 29667-29713, PTD 29719-29738
PTD 27894, Mukim of Simpang Kanan
Johor Darul Takzim
PT 5100 HS(D) 18536
Mukim Setapak
Off 10 KM Jalan Gombak
(Taman Cemerlang)
148
Size
Description /
Existing Use
Net Book
Value
RM‘000
302
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
PTD 16157 HS(D) 17883
PTD 16157 HS(D) 17885
PTD 16157 HS(D) 17888
PTD 16157 HS(D) 17890
PTD 16157 HS(D) 17892
Mukim Simpang Kanan
Daerah Batu Pahat, Johor
(No. 5, 7 10, 12 & 15, 2 1/4 miles
Jalan Kluang, Taman Pacific Selatan
Freehold
No. 76, Mukim 17
Lot 471 & 472
Tanjung Bungah
Nouth East District
Pulau Pinang
Net Book
Value
RM‘000
Size
Description /
Existing Use
15
0.18
acre
(7,840
sq ft)
5 units of
3-storey
shophouse
for rental
1,030
Freehold
N/A
9.76
acres
Land held for
development
2,065
Leasehold
expiring in
year 2053
36
87,120
sq ft
1 1/2- storey
factory &
sales office
5,267
B4/19 (Unit 5544)
Awana Condominium
Genting Highlands
Pahang Darul Makmur
Freehold
>17
1,258
sq ft
Resort
apartment
for rental
260
B4/21 (Unit 6542)
Awana Condominium
Genting Highlands
Pahang Darul Makmur
Freehold
>17
2,044
sq ft
Resort
apartment
for rental
596
B3/19 (Unit 4544) B Block, 3rd Floor
Awana Condominium
Genting Highlands
Pahang Darul Makmur
Freehold
>17
1,258
sq ft
Resort
apartment
for rental
394
B4/22 (Unit 6541)
Awana Condominium
Genting Highlands
Pahang Darul Makmur
Freehold
>17
2,007
sq ft
Resort
apartment
for rental
394
Lot PTB 13484 Title HS(D)
74361 Daerah Johor Bahru
Johor Darul Takzim
(Sri Indah Court
Jalan Abdul Samad
Johor Bahru
Johor Darul Takzim)
Freehold
>9
41,676
sq ft
24 units of
4-storey
apartment
for rental
5,740
Lot 1165 Geran 5868, Section 57
Daerah Kuala Lumpur
(Lot 17.01 17th Floor
Wisma Cosway, Kuala Lumpur)
Freehold
>17
1,546.34
sq ft
1 unit of
apartment
301
Title/Location
HS (M) 8377, PT No 514
Kampung Baru Subang
149
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 22605, Geran 903
Mukim Kuala Lumpur
Wilayah Persekutuan
(20 Jalan Telawi 2
Bangsar Baru, Kuala Lumpur)
Freehold
10
2,061
sq ft
1 units of
3-storey
shop / Office
for rental
Unit 15A-33-6 Scots Tower
Kuala Lumpur
Mont’ Kiara Pines
Freehold
>5
2,588
sq ft
1 unit of
Condo for
rental (Penthouse)
1,045
Leasehold
99 years
expiring on
21/09/2072
N/A
33,706
sq ft
3-storey detached
house under
construction
10,875
Lot 848 HS(D) 32073
Mukim Kuala Lumpur
(2 Jalan Derumun
Bukit Damansara
Kuala Lumpur)
Freehold
16
11,999
sq ft
Land with a
bungalow
819
Lot PT 2 HS(M) 349
Mukim Ampang, Kuala Lumpur
(15 Lingkungan U Thant, Kuala Lumpur)
Freehold
>12
14,000
sq ft
Land with a
2-storey
bungalow
2,093
Lot 513 QT(R) 12505
(8 Lorong Limau Kasturi, Bangsar
Kuala Lumpur)
Freehold
16
6,053
sq ft
Land with a
2-storey
bungalow
379
PT 1151 HS(D) 32355
Mukim & Daerah Kuala Lumpur
(33 Jalan Beka, Damansara Heights
Kuala Lumpur)
Freehold
>12
10,838
sq ft
Land with
a 2-storey
bungalow
1,438
Lot 45798 HS(D) 45065
Mukim Kuala Lumpur
Wilayah Persekutuan
(74 Jalan Setiakasih
Damansara Heights
Kuala Lumpur)
Freehold
>12
14,221
sq ft
Land with
a 2-storey
bungalow &
a swimming
pool
1,453
Lot LG147
Lower Ground Floor
Sungei Wang Plaza
Kuala Lumpur
Freehold
22
570
sq ft
1 unit of
shoplot
for rental
687
Lot LG147-1
Lower Ground Floor
Sungei Wang Plaza
Kuala Lumpur
Freehold
22
594
sq ft
1 unit of
shoplot
for rental
687
Leasehold
99 years
expiring on
30/07/2061
>17
5,400
sq ft
Land with
a 2-storey
bungalow
for rental
354
Title/Location
Lot 37720 Title PN 9989
Mukim Kuala Lumpur
(8 Lorong Duta 2
Taman Duta, Kuala Lumpur)
Lot 72 QT(R) 3923
Petaling Jaya
(72 Jalan 14/29, Petaling Jaya
150
Size
Description /
Existing Use
Net Book
Value
RM‘000
848
List of
P
R
O
P
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R
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I
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S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 8 Subang Hi-Tech Industrial Park
Subang Jaya
(Payang Indah Sdn Bhd)
Freehold
>5
48,748
sq ft
1-storey
factory with
3-storey
office for
rental
5,141
PT 41327, HSD 44079
Mukim & District of Klang
Taman Bayu Perdana, Klang
Freehold
N/A
1,500
sq ft
4-Storey
shop / office
under
construction
739
No.B21-12, 21st Floor, Block B
Athenaeum At The Peak
Bkt Antarabangsa
Freehold
<3
1,271
sq ft
1 unit of
apartment
for rental
270
Lot PTPJ1484/2, HS(D)44636
Lot 3, Section 51A, Jalan 225
Petaling Jaya
Leasehold
99 years
expiring on
23/06/2065
>5
35,000
sq ft
1 single storey
detached factory
for rental
6,926
Plot 36 Kawasan Perindustrian
Bandar Baru Aman
Jitra, Kedah
Leasehold
60 years
expiring in
year 2044
47
257,550
sq ft
Leasehold land
and building Factory
building
2,626
Title/Location
Size
Description /
Existing Use
Net Book
Value
RM‘000
HS(D) 4/1984, Lot No. 36
Mukim of Naga
District of Kubang Pasu
Kedah Darul Aman
Lot 23-25, Lot 70-77
Kota Raya Complex
Jalan Cheng Lock
Kuala Lumpur
Freehold
>12 } 26,888 &
} 12,992.03
}
sq ft
}
}
}
}
}
}
Lot 119, 125
Kota Raya Complex
Jalan Cheng Lock
Kuala Lumpur
Leasehold
expiring on
13/02/2072
Lot 3267 EMR 1563
Mukim Simpang Kanan
Daerah Batu Pahat
Johor Darul Takzim
(Batu 1´ Jalan Minyak Beku
Batu Pahat
Johor Darul Takzim)
Leasehold
50 years
expiring on
30/04/2023
8
0.56
acre
11th Floor, Berjaya Star City
No.1, Jalan Imbi
Kuala Lumpur
(Proposed Address)
Freehold
(strata titles)
U/C
106,027
Retail lots
for sale or
rental
Factory
building
for rental
} 11,075
}
}
}
}
}
}
}
}
107
1 floor of office space 47,728
in an integrated
commercial
development (under
construction)
151
List of
P
R
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P
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R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 529, Of Persiaran Subang Permai
Subang Jaya
47500 Petaling Jaya
Freehold
7
115,024
sq ft
Land and building /
factory office,
warehouse and
distribution centre
8,832
Berjaya Star City
13th Floor
No.1, Jalan Imbi
Kuala Lumpur
Freehold
N/A
107,028
sq ft
1 floor of office
space of an
integrated
commercial
development (under
construction)
30,261
Lot 845 to 833, 955 & 1217
CT 17922 to 17960 &
Geran 8335, Section 67
Daerah Kuala Lumpur
Wilayah Persekutuan
(KL Plaza, Jalan Bukit Bintang
Kuala Lumpur)
Freehold
12
446,103
sq ft
Podium block
restaurant block
& car park for
rental
133,450
HS(D) 80653, No PT57
Lot 1223, 1224 & 1225 Seksyen 67
Geran 9934, 9935 & 9936
Daerah Kuala Lumpur
(Plaza Berjaya, 12 Jalan Imbi
Kuala Lumpur)
Freehold
13
67,855
sq ft
Land with office
& residential block
& shopping
complex
for rental
36,795
210 TS10 North East District
Penang & HS(D) 1& 2, Sek 10
Georgetown, Pulau Pinang
88-92 Kajang Road
Pulau Pinang
Freehold
7
0.1755
acre
Land with
factory
1,287
Lot 15802 Geran 1223, (Old Lot 58)
Mukim & Daerah Kelang
(Beaumont Estate)
Freehold
N/A
370.975
acres
Land for mixed
development
64,736
Lot 6 Ct 9445 Section 89
Daerah Kuala Lumpur
(317 Jalan Ampang
Kuala Lumpur)
Freehold
>17
51,727
sq ft
Residential land
with detached
building for rental
6,251
Lot 117 CT 12610
Section 89A
Daerah Kuala Lumpur
(187A Jalan Ampang
Kuala Lumpur)
Freehold
>10
43,560
sq ft
Land with
detached
building
for rental
9,575
Lot 1744 & 1745 Mk 17
Daerah Seberang Perai Tengah
Pulau Pinang
Freehold
N/A
227,274
sq ft
Vacant
development
land
4,528
Lot 1740, 1741, 1742, 1743, 1746
1748, 1749 & 1750, Mukim 17
Daerah Seberang Perai Tengah
Pulau Pinang
Freehold
N/A
1,641,478
sq ft
Vacant
development
land
Title/Location
152
Size
Description /
Existing Use
Net Book
Value
RM‘000
List of
P
R
O
P
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S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 767, 1252, 1253 & 1755
Mk 17 Daerah Seberang Perai Tengah
Pulau Pinang
Freehold
N/A
255,618.79
sq ft
Lot No. 734, Section 57
(No. 25, Jalan Sultan Ismail
50250 Kuala Lumpur)
Freehold
11
0.53125
acre
Leasehold
expiring on
09/04/2056
36
1.27
acres
Longwood
2300 West State Rd. 434
Longwood
Florida 32779, USA
Freehold
3
Orange Park
1650 Wells Road
Orange Park
Florida 32073, USA
Freehold
Columbia O’Neil
215 O’Nell Court
Columbia
SC 29223, USA
Title/Location
Size
Description /
Existing Use
Net Book
Value
RM‘000
Vacant
development
land
Commercial land
with 1-storey
showroom
36,036
Land held for
development
12,972
Land:
3.4 acres
Building:
7,500 sq ft
Land with
restaurant
building
9,853
3
Land:
2.6 acres
Building:
6,800 sq ft
Land with
restaurant
building
7,427
Freehold
3
Land:
2.35 acres
Building:
8,400 sq ft
Land with
restaurant
building
6,018
Columbia/Irmo
301, Park Terrace
Irmo
SC, USA
Freehold
3
Land:
2.5 acres
Building:
6,800 sq ft
Land with
restaurant building
3,682
Bradenton
5051 14th Street W
Bradenton
Florida 34207, USA
Freehold
4
Land:
2.2 acres
Building:
10,000sq ft
Land with
restaurant building
6,202
Kissimmee
4155 W. Vine Street
Kissimmee
Florida 34741, USA
Freehold
4
Land:
3 acres
Building:
7,500 sq ft
Land with
restaurant building
7,847
Jacksonville
9743, Old St Augustine Road
Jacksonville
Florida 32257, USA
Freehold
4
Land:
1.8 acres
Building:
8,300 sq ft
Land with
restaurant building
6,219
Ocala
2015 SW 17th Street
Ocala
Florida 34471, USA
Freehold
4
Land:
1.58 acres
Building:
7,500 sq ft
Land with
restaurant building
7,125
Tallahassee
2226 N. Monroe Street
Tallahassee
Florida 32303, USA
Freehold
4
Land:
2.33 acres
Building:
7,500 sq ft
Land with
restaurant building
8,408
Lot 6, Jalan 217
Section 51, Petaling Jaya
(Lot 58 Section 20, Petaling Jaya)
153
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
North Palm Beach
200 Yacht Club Drive
Palm Beach
Florida 33408, USA
Freehold
3
Land:
1.9 acres
Building:
8,500 sq ft
Land with
restaurant building
7,577
Ft. Myers
8771 College Parkway
Ft. Myers
Florida 33919, USA
Freehold
3
Land:
2.6 acres
Building:
6,800 sq ft
Land with
restaurant building
8,845
Greenville
317 Haywood road
Greenville
SC 29607, USA
Freehold
3
Land:
2.5 acres
Building:
6,800 sq ft
Land with
restaurant
building
8,739
Leasehold
99 years
expiring on
13/10/2079
5
11.82
acres
Land for
residential
development
8,846
HS(D) 67288 Lot 57
Mukim Petaling
Jalan Sungai Besi
Kuala Lumpur
Freehold
N/A
6,867
sq ft
Vacant
development
land
352
Lot 1882, 1883, 1926, 1927
Title GM 1768, 1769, 1770 & 1771
Robson Heights
Kuala Lumpur
Freehold
N/A
3.725
acres
Vacant
development
land
3,570
Lot 1896,1901 & 1914 Mukim of KL, FT
Lot 111, Sec 94, KL, FT
Robson Heights
Kuala Lumpur
Freehold
N/A
5.11280
acres
Vacant
development
land
10,179
Lot 109, 1884-1885, 1890-1895
1898-1900, 1913, 1915-1917, 1919-1925
1180, 1068-1069, 958-959, 981, 107
811 & EMR 4654, 1071, 1828, 850
962, 741, 1829, 1075, 1076, 1080
1018, 1081-1084, Section 94
Daerah Kuala Lumpur
Robson Heights
Kuala Lumpur
Freehold
N/A
26.1625
acres
Vacant
development
land
22,793
Lot 1897 Title GM 712, Section 94
Daerah Kuala Lumpur
Robson Heights
Kuala Lumpur
Freehold
N/A
0.91875
acre
Vacant
development
land
800
Lot 107 Title GM 895
Kuala Lumpur
Robson Heights
Kuala Lumpur
Freehold
N/A
1.53125
acres
Vacant
development
land
1,067
Title/Location
Lot PT No 4627, 4625, 4626
Mukim Petaling
Jalan Sungai Besi
Kuala Lumpur
(Petaling Indah)
154
Size
Description /
Existing Use
Net Book
Value
RM‘000
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Freehold
N/A
3.6213
acres
Vacant
development
land
6,327
HS(D) 789, PT 4 Mukim of KL
Fairview Condominium
Jalan Tun Razak
Section 62
Kuala Lumpur
Leasehold
99 years
expiring on
18/03/2074
N/A
2.791
acres
Vacant
development
land
16,626
HS(D) 791, PT 6 MuKim of KL
Ixora Apartments
Jalan Tun Razak, Section 62
Kuala Lumpur
Leasehold
99 years
expiring on
18/03/2074
>5
131,432
sq ft
Condominium
blocks
Sold: 303 units
Unsold: 1 unit
2,788
Part of Lot PT 12182 & 12183
Mukim and Daerah of Bentung
Pahang Darul Makmur
Leasehold
99 years
expiring on
13/10/2079
N/A
5,948,292
sq ft
Vacant
development
land
27,650
Plot 160, Lot No: 007171
Phase 1 Bayan Lepas FTZ
Bayan Lepas
11900 Pulau Pinang
Plot 160:
Leasehold
expiring on
22/05/2050
Plot 163, Lot No:7497
Phase 1 Bayan Lepas FTZ
Bayan Lepas
11900 Pulau Pinang
Plot 163:
Leasehold
expiring on
10/12/2050
Title/Location
Lot 1886 - 1889
Title GM 802, 803, 809 & 829
Robson Heights
Kuala Lumpur
Size
} 11 Plot 160:
}
1.18
}
acres
}
}
}
Plot 163:
}
1.52
}
acres
}
Description /
Existing Use
Land with
factory
building
} 4,121
}
}
}
}
}
}
}
}
Lot 845 to 833, 955 & 1217
CT 17922 to 17960 & Geran 8395
Wilayah Persekutuan
(KL Plaza, Jalan Bukit Bintang
Kuala Lumpur)
Freehold
12
179,132
sq ft
Lot 7, Grant 62233
Section 4, Daerah Kulim
Kedah Darul Aman
(47, Jalan Raya, Kulim
Kedah Darul Aman)
Freehold
8
2,128
sq ft
Land with a
2-storey
shophouse showroom &
sales office
246
Lot 9, G 11361, Section 16
Sungai Petani, Daerah Kuala Muda
Kedah Darul Aman
(19, Jalan Merbok
Sungai Petani
Kedah Darul Aman)
Freehold
7
1,355
sq ft
Land with a
2-storey
sales office
106
Leasehold
99 years
expiring on
27/09/2085
7
1,400
sq ft
Land with a
2-storey
sales office
200
Lot 5642, PN 407
Mukim & Daerah Kota Setar
Kedah Darul Aman
(3, Kompleks Sukan
Jalan Sungai Korok
Alor Setar, Kedah Darul Aman)
114 units of
apartments with
clubhouse known
as KL Court &
KL Heights
for rental
Net Book
Value
RM‘000
60,119
155
List of
P
R
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P
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T
I
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S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Alor Star 1 Shop
2, Komplek Sukan
Lebuh Raya Sultan Abdul Halim
05400 Alor Star
Kedah Darul Aman
Freehold
4
1,399
sq ft
Land with a
2-storey
sales office
250
Lot 1895 & 329, HS(D) 1342
Mk1 & HS(D) 2182 Mk1
Daearh Seberang Perai Tengah
Pulau Pinang
(2 Jalan Kurau
Taman Chai Leng, Prai)
Freehold
9
4,959
sq ft
Land with
2-storey
regional office
672
Lot 4119 & 4120
Freehold
Geran No. 22404 & 22405
Daerah Larut & Matang, Mukim Kemunting
Taiping, Perak Darul Ridzuan
(362 Jalan Kamunting, Taiping
9
1,400
sq ft
Land with
2-storey
sales office
100
Lot 325 CT 6035
Lot 326 CT 2255
Kampar, Perak Darul Ridzuan
(78 & 80 Jalan Gopeng, Kampar
Freehold
9
4,800
sq ft
Land with
2-storey
sales office
255
Lot 12198S HS(D)KA 1148/76
Ipoh, Daerah Kinta
Perak Darul Ridzuan
(545 Jalan Pasir Puteh
31650 Ipoh, Perak Darul Ridzuan)
Freehold
7
1,600
sq ft
Land with
3-storey
sales office
236
Lot 268 CP 12601
Bagan Serai
Daerah Krian
Perak Darul Ridzuan
(Lot 268 Jalan Besar
Bagan Serai, Perak Darul Ridzuan)
Freehold
7
2,409
sq ft
Land with
2 1/2-storey
sales office
270
Lot 131 PT 1092 QTHS(D)KN 84
Mukim Parit Buntar
Daerah Krian
Perak Darul Ridzuan
(8 Medan Hentian
Pusat Bandar Baru
Parit Buntar, Perak Darul Ridzuan)
Leasehold
99 years
expiring on
19/04/2089
8
1,400
sq ft
Land with
2-storey
sales office
178
Freehold
6
2,136
sq ft
Land with
4-storey
sales office
280
Title/Location
Lot 416 G 17421
Simpang Ampat
District of Lower Perak
Perak Darul Ridzuan
(34 Jalan Mohd Ali, Sitiawan
156
Size
Description /
Existing Use
Net Book
Value
RM‘000
List of
P
R
O
P
E
R
T
I
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S
AS AT 30 APRIL 1999
Title/Location
Tenure
Estimated
Age of
Buildings
(Years)
Size
Description /
Existing Use
Net Book
Value
RM‘000
PT 7720 HS(M) 5726
Mukim Sungai Buluh
Bandar Baru, Sungai Buluh
(Lot 2090 Jalan 3/1
Bandar Baru, Sungai Buluh
47400 Selangor Darul Ehsan)
Leasehold
99 years
expiring on
13/03/2087
8
1,400
sq ft
Land with
2-storey
sales office
109
Lot 10601 HS(M) 8795
Mukim Kajang
Bandar Baru Bangi
(11A Jalan 6C/5
Bandar Baru Bangi
43560 Selangor Darul Ehsan)
Leasehold
99 years
expiring on
08/07/2086
6
1,938
sq ft
Land with
2-storey
sales office
140
6, Jalan 217
Petaling Jaya
Leasehold
99 years
expiring in
year 2045
N/A
2,842
sq ft
Vacant land
with Tenaga
substation
Lot 1 & 2 Ground Floor
Block C, Sri Pelangi, Phase 2
Jalan Genting Klang
Setapak, Kuala Lumpur
Freehold
5
Lot 1:
1,598 sq ft
Lot 2:
1,572 sq ft
PT 20 HS(D) 4808
Pekan Bahau, Daerah Jempol
(14 Jalan Dato’ Besar, 72100 Bahau
Negeri Sembilan Darul Khusus)
Freehold
7
Lot 16192 GM 451
Daerah Seremban
(507 Jalan Tuanku Antah
70100 Seremban
Negeri Sembilan Darul Khusus)
Freehold
Lot PTB 1375 HS(D) 7453
Kota Tinggi
Johor Darul Takzim
(3 Jalan Indah, Medan Indah
81900 Kota Tinggi
Johor Darul Takzim)
PTD 6484 HS(M) 1382
Mukim Ulu Benut
Johor Darul Takzim
(27 Jalan Kijang
Taman Mohd Yassin
86200 Simpang Renggam
Johor Darul Takzim)
2 units of ground
floor shoplots showroom &
sales office
481
1,775
sq ft
Land with
2-storey
sales office
247
9
2,196
sq ft
Land with
3-storey
shophouse regional &
sales office
273
Freehold
8
1,540
sq ft
Land with
2-storey
shop/office showroom &
sales office
121
Freehold
11
1,760
sq ft
Land with
3-storey
sales office
160
157
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
Lot 1401 Geran 17004
Bandar Penggaram
(98-3 Jalan Rahmat
83000 Batu Pahat, Johor Darul Takzim)
Freehold
8
1,435
sq ft
Land with
2-storey
sales office
284
Lot PTD 14303 HS(D) 27321
Mukim Tanjong Sembrong
Daerah Batu Pahat
Johor Darul Takzim
(21 Jalan Kota,Taman Kota
83700 Yong Peng, Johor Darul Takzim)
Freehold
6
2,558
sq ft
Land with
2-storey
sales office
135
Lot PTD 7861 HS(D) 11050
Mukim Kesang, Daerah Muar
Johor Darul Takzim
(1-39 Batu 1 Jalan Kesang
Tanjung Agas, 84000 Muar
Johor Darul Takzim)
Leasehold
99 years
expiring on
19/02/2085
6
1,320
sq ft
Land with
3-storey
sales office
210
Lot 240 & 241, Sri Dagangan
Kuantan Business Centre
Mukim Kuala Kuantan
25200 Kuantan
Pahang Darul Makmur
Freehold
4
2,860
sq ft
2 units of
3-storey
sales office
711
Title CI 135319292
Daerah Keningau, Sabah
(14 Jalan Masak
89000 Keningau, Sabah)
Leasehold
99 years
expiring on
03/11/2930
7
1,200
sq ft
Land with 2-storey
sales office
238
Lot 1360 Block 11
Muara Tebas Land District
Kuching, Sarawak
(Lot 907 Tabuan Jaya
Commercial Centre
93350 Kuching, Sarawak)
Leasehold
expiring on
31/12/2069
8
1,540
sq ft
Land with
3-storey
sales office
258
61, Jalan Besar, Jalan Seremban
Lukut, Port Dickson
Leasehold
expiring in
year 2093
2
1,539
sq ft
2-storey shoplot showroom &
sales office
278
Lots 335 & 336
Mukim Kuala Kuantan
Pahang Darul Makmur
(Astana Golf Resort Bungalow)
Freehold
N/A
16,714
sq m
2 units of reserve
bungalow lots
224
Sri Dagangan Kuantan Business Centre
Lot A169 & A170
Jalan Tun Ismail
Kuantan, Pahang Darul Makmur
Freehold
5
2,860
sq ft
(22x65
sq ft each)
2 units of
3-storey shops/
offices for
rental
747
Lot 367, Section 11
Kuching Town Land District
Jalan Kulas, Kuching
Sarawak
Freehold
6
1,214
sq ft
1 unit of
4-storey
shophouse for
rental
760
Title/Location
158
Size
Description /
Existing Use
Net Book
Value
RM‘000
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Title/Location
Lot 19, Bornion Commercial Centre
Kota Kinabalu
Sabah
Tenure
Estimated
Age of
Buildings
(Years)
Size
Description /
Existing Use
Net Book
Value
RM‘000
Leasehold
expiring in
year 2915
6
3,750
sq ft
1 unit of shoplot
used as a
sales office
24, Jalan SS2/66
Petaling Jaya
Freehold
27
1,680
sq ft
1 unit 2-storey
shophouse
for rental
1,364
Sri Desa Enterpreneur’s Park
Jalan Kuchai Lama
Kuala Lumpur
Freehold
1
6,706
sq ft
1 unit of 5-storey
shopoffice
- vacant
1,557
719, Jalan Tasek
Ipoh, Perak Darul Ridzuan
Freehold
10
1,540
sq ft
1 unit of
shophouse
for rental
213
Sri Pelangi Shoplot, Lot 12 & 13
Ground Floor Block C
Jalan Genting Kelang
Kuala Lumpur
Freehold
5
3,049
sq ft
2 units
of shoplot
for rental
493
Kim’s Park Business Centre
PTB 4556, Bandar Penggaram
District of Batu Pahat
Johor Darul Takzim
Freehold
N/A
2,575
sq ft
1 unit 3-storey
shopoffice
under
construction
612
Leasehold
99 years
expiring on
12/02/2088
N/A
62.5
acres
Land with
ongoing
residential &
commercial
development
9,226
Lot 001165 Geran 5868
Wisma Cosway
Jalan Raja Chulan
Kuala Lumpur
Freehold
16
642,302
sq ft
Shopping podium
with shoplots /
Offices / Apartments
for rental
55,239
1400 Chevrier Boulevard
Winnipeg MB R3T 1Y6
Canada
Freehold
5
4.0
acres
Land with
warehouse
& office
1,417
570 Harrop Drive
Milton ON L9T 3H2
Canada
Freehold
31
11.5
acres
Land with
warehouse
& office
2,736
72 National Street
Garson ON P3L 1M5
Canada
Freehold
3
5.0
acres
Land with
warehouse
& office
1,778
7605 67 Street
Edmonton AB T6B 1R4
Canada
Freehold
30
4.1
acres
Land with
warehouse
& office
2,332
1281 Rue Newton
Boucherville PQ J4B 5H2
Canada
Freehold
25
12.0
acres
Land with
warehouse
& office
2,455
Lot PT 1696 & 1697
HS(D) 36083 & 36084
Mukim Petaling, Off Jalan Puchong
(Taman Kinrara, Puchong
588
159
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
105 Rue de Rotterdam
St Augustin PQ G3A ITI
Canada
Freehold
20
7.0
acres
Condominium for
business promotion
1,638
4360 Lorimer Road
Whistler BC V0N 1B4
Canada
Freehold
19
1,800
sq ft
Condominium for
business promotion
309
Unit F4
4909, Honoapiilani Hwy
Lahaina HI 96761, USA
Freehold
28
1,500
sq ft
Condominium for
business promotion
348
2260 Calle Conejera
Palm Springs 92262
USA
Freehold
22
2,200
sq ft
Condominium for
business promotion
282
320 Ewen Avenue
New Westminster BC V3M 5B1
Canada
Freehold
30
8.5
acres
Land with
warehouse & office
3,718
2545 Acland Road
Kelowna BC VIX 7J4
Canada
Freehold
6
2.5
acres
Land with
warehouse & office
1,591
3230 54 Avenue SE
Calgary AB T2C 0A8
Canada
Freehold
19
4.1
acres
Land with
warehouse & office
2,305
Leasehold
expiring on
17/06/2078
N/A
292.68
acres
Land for
development
46,953
Freehold
8
2,386
sq ft
Samaworld Parkview
& Hillview Resort investment
PT 101894-PT 101899 &
PT 101912-PT 101914
Mukim Hulu Kinta
Perak Darul Ridzuan
(Jalan Kuala Langat, Ipoh
Leasehold
99 years
expiring on
17/10/2089
N/A
823,871
sq ft
Sublot VI, part of Lot 7 Section 90
Parent Title CT 17211
Mukim Kuala Lumpur
Wilayah Persekutuan
(438 Jalan Tun Razak, Kuala Lumpur)
Leasehold
99 years
expiring on
01/10/2020
17
1.81
acres
HS(D) 152, PTPTB(A)
304, MK 14, Daerah Seberang Perai
6315 Lorong Mak Mandin 4
Kawasan Perusahaan Mak Mandin
13400 Perai
Leasehold
expiring on
29/08/2034
3
0.99228
acre
Title/Location
Lot 11527 & 11525
HS(D) 18814 & 18812
Mukim Hulu Kelang, Gombak
(Taman Tun Adbul Razak
C7-22P Villa Genting Apartment
Resort Lot 11386 HS(D) 10563
Genting Highlands, Bentong
Pahang Darul Makmur
160
Size
Description /
Existing Use
Net Book
Value
RM‘000
538
Industrial land
for investment
5,059
Residential land
with detached
building for rental
1,188
Land with
warehouse
1,428
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
1, 2 & 3 Jalan Permatang Gedong
Taman Sejati Indah
Mukim Sg Petani
Daerah Kuala Muda
Sungai Petani, Kedah Darul Aman
Freehold
3
14,700
sq ft
Shoplot showroom
& office
1,903
36 & 38 Jalan Ma’arof
59000 Bangsar Baru
Kuala Lumpur
Freehold
8
7,000
sq ft
3-storey shophouse showroom
& office
1,533
No 67, Tanjong Pagar Road
Singapore 088488
Leasehold
99 years
expiring on
07/04/2091
>17
5,000
sq ft
1 unit of 3-storey
pre-war shophouse
for sales and
marketing office
6,714
HS(D) 224 PT Tioman 215
Daerah Rompin, Mukim Tioman
Tioman Island
Pahang Darul Makmur
Leasehold
99 years
expiring on
06/01/2074
12
30
acres
Land for
hotel
& resort
operations
HS(D) 27 P.T. Tioman 224
Daerah Rompin, Mukim Tioman
Tioman Island
Pahang Darul Makmur
Leasehold
99 years
expiring on
05/10/2076
12
170
acres
Land for
hotel
& resort
operations
Lot 87 & 86, PT 445 & 446
Kampung Bunut
Mukim Tioman
Pahang Darul Makmur
Leasehold
99 years
expiring on
05/10/2089
N/A
27
acres
Land for
resort
development
Lot 3371 - 3375
CT 16057 - 16061
Mukim Setapak
Taman Sri Pelangi
Jalan Genting Kelang
Kuala Lumpur
Freehold
3
7.544
acres
Condominium blocks 14,880
Block A :
Sold : 197
Unsold : 19
Block B :
Sold : 149
Unsold : 83
Block C :
Sold : 93
Unsold : 15
Shoplots :
Sold : 13
No. 4 Lengkok Kikik 2
Taman Inderawasih
18600 Prai, Pulau Pinang
Freehold
3
3,003
sq ft
Warehouse
cum office
461
62, Jalan Permas 9/13
Bandar Baru Permas Jaya
81750 Johor Bahru
Johor Darul Takzim
Freehold
3
3,003
sq ft
Warehouse
cum office
565
Leasehold
expiring on
05/02/2094
N/A
123.23
acres
Mixed
development
Title/Location
HSD 9347, 9355
PT 12818, 12826
Mukim & District of Bentong
Pahang Darul Makmur
Size
Net Book
Value
RM‘000
Description /
Existing Use
} 146,147
}
}
}
}
}
}
}
}
6,598
60,167
161
List of
P
R
O
P
E
R
T
I
E
S
AS AT 30 APRIL 1999
Tenure
Estimated
Age of
Buildings
(Years)
GM 6510, Lot 20723
Mukim of Kuala Kuantan
Pahang Darul Makmur
B-3026, Taman Tunas Jaya Phase IV
Jalan Haji Ahmad, Kuantan
Pahang Darul Makmur
Freehold
16
1,572
sq ft
2-storey shophouse /
Warehousing and
distribution centre
132
26 & 26A, Jalan Pernas 1/3
Bandar Baru Pernas Jaya
Lot PTD 33608, Mukim of Plentong
81750 District of Johor Bahru
Johor Darul Takzim
Freehold
16
Land :
1,600 sq ft
Building:
2,799 sq ft
Land with a 2-storey
shophouse /
Warehousing and
distribution centre
143
Leasehold
99 years
expiring in
year 2081
3
10,540
sq ft
Land & building /
Warehousing, sales
office and distribution
centre
650
GM 108 Lot 538, Mukim of Damansara
Daerah Petaling, Selangor Darul Ehsan
Freehold
4
115,024
sq ft
Land with 5-storey
13,717
office cum warehouse
Lot 87470 Mukim of Ulu Kinta
District of Kinta, Perak Darul Ridzuan
(10 Jalan Kledang Jaya, 19 Taman Alka
Ipoh, Perak Darul Ridzuan)
Leasehold
99 years
expiring on
16/7/2079
15
1,400
sq ft
Land with a 3-storey
shophouse
Lot 45, Silibin Light Industrial Park
30100 Ipoh
Perak Darul Ridzuan
Leasehold
99 years
expiring in
year 2054
5
9,600
sq ft
Semi - detached office 408
cum warehouse
/ Warehousing,
sales office and
distribution centre
Lot 538, Jalan Subang 5
Off Persiaran Subang, Subang Jaya
47500 Petaling Jaya
Freehold
5
3
acres
Land and building
/ Factory, office
warehouse and
distribution centre
13,340
Land on corner of
Gordon & Malcom Street
CT 6636, Fiji
Freehold
N/A
13,713.21
sq ft
Vacant land for
development
3,098
Land on Malcom Street
CT 13406, Fiji
Freehold
21
24,929
sq ft
Lot 43, 44, 133 and 135, Section 58
Town and District of Kuala Lumpur
Freehold
N/A
142,114.5
sq ft
Geran 12472, 26879, 26880
Freehold
Lots 4053, (Lot 5291), 4183
4184, Mukim and District of Kuala Lumpur
Wilayah Persekutuan
N/A
84,724
sq ft
Vacant
development
land
6,734
Lot No. 4053, 4183, 4184
Kuala Lumpur
(299, Jalan Cheras
Kuala Lumpur)
N/A
84,724
sq ft
Land held for
development
6,667
Title/Location
PT 285, HS(M) 21/82
Mukim of Bacang
75250 District of Melaka Tengah
Melaka
162
Freehold
Size
Description /
Existing Use
Net Book
Value
RM‘000
162
Hotel building
(50 guest rooms)
Vacant land for
development
113,447
Statistics on
S
H
A
R
E
H
O
L
D
I
N
G
S
AS AT 3 SEPTEMBER 1999
A N A LY S I S O F S H A R E H O L D I N G S
Size of Shareholdings
1
499
500
5,000
5,001
10,000
10,001 - 100,000
100,001 - 1,000,000
Above 1,000,000
No. of Shares
%
No. of
Shareholders
%
51,947
102,563,949
80,182,030
195,035,554
115,909,560
786,483,216
0.01
8.01
6.26
15.24
9.05
61.43
646
42,508
9,557
7,071
454
66
1.07
70.49
15.85
11.73
0.75
0.11
1,280,226,256
100.00
60,302
100.0
Note:
There is only one class of shares in the paid-up capital of the Company. Each share entitles the holder to one vote.
TWENTY LARGEST SHAREHOLDERS
Name
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
The Central Depository (Pte) Limited
Syarikat Nominee Bumiputra (Tempatan) Sdn Bhd
- Pledged Securities Account for
Tan Sri Dato’ Seri Vincent Tan Chee Yioun (3363 Ansa)
Inter-Pacific Equity Nominees (Tempatan) Sdn Bhd
- Tan Sri Dato’ Seri Vincent Tan Chee Yioun (A/C 88)
Tan Sri Dato’ Seri Vincent Tan Chee Yioun (2553 Ansa)
Arab-Malaysian Nominees (Tempatan) Sdn Bhd
- Arab-Malaysian Finance Bhd for Berjaya Resource Holdings Sdn Bhd (7/399-9)
Berjaya Resource Holdings Sdn Bhd
Chase Malaysia Nominees (Tempatan) Sdn Bhd
Tan Sri Dato’ Seri Vincent Tan Chee Yioun
Citicorp Nominees (Asing) Sdn Bhd
- CBHK PBGSGP for Dato’ Tan Chee Sing
Lengkap Bahagia Sdn Bhd
Malaysia Nominees (Tempatan) Sendirian Berhad
- Great Eastern Life Assurance (Malaysia) Berhad (MLF)
- Arab-Malaysian Finance Bhd for
Tan Sri Dato’ Seri Vincent Tan Chee Yioun (7/623-8)
Wong Yoke Fong @ Wong Nyok Fing
B & B Enterprise Sdn Bhd
Amanah Raya Nominees (Tempatan) Sdn Bhd
- Kuala Lumpur Growth Fund
M & A Investments Pte Ltd
Mayban Nominees (Tempatan) Sdn Bhd
- Mayban Trustees Berhad for
Kuala Lumpur Regular Savings Fund (N14011940100)
- Mayban Trustees Berhad for Kuala Lumpur Industry Fund (N14011930270)
Amanah Raya Nominees (Tempatan) Sdn Bhd
- Kuala Lumpur Saving Fund
Sabah Development Nominees (Tempatan) Sdn Bhd
- Pledged Securities Account for Dato’ Tan Chee Sing
- AMMB International (L) Ltd for Tan Sri Dato’ Tan Kok Ping (7/27-2)
No. of
Shares Held
%
239,776,851
124,050,996
18.73
9.69
69,947,235
5.46
48,300,000
3.77
27,118,549
2.12
24,189,010
21,200,000
1.89
1.66
17,985,250
1.40
12,550,000
12,000,000
0.98
0.94
10,482,007
0.82
10,061,750
9,754,937
8,443,000
0.79
0.76
0.66
7,351,000
6,902,000
0.57
0.54
6,675,000
0.52
6,401,000
0.50
6,398,000
0.50
6,370,000
0.50
675,956,585
52.80
163
Statistics on
S
H
A
R
E
H
O
L
D
I
N
G
S
AS AT 3 SEPTEMBER 1999
SUBSTANTIAL SHAREHOLDERS AS PER REGISTER
OF SUBSTANTIAL SHAREHOLDERS
No. of Shares Held
Name
Direct Interest
%
Deemed Interest
%
305,035,215
23.83
145,508,246 (b)
11.37
1.
Tan Sri Dato’ Seri Tan Chee Yioun (a)
2.
Berjaya Resource Holdings Sdn Bhd
75,094,559
5.87
3.
B & B Enterprise Sdn Bhd
38,874,687
3.04
30,860,000 (c)
2.41
4.
36,181,000
2.83
679,000 (d)
0.05
5.
Lengkap Bahagia Sdn Bhd
30,860,000
2.41
-
-
-
-
AS BARE TRUSTEES PURSUANT TO SECTION 69P OF
T H E C O M PA N I E S A C T, 1 9 6 5
No. of Shares
%
1.
183,119,960
14.30
2.
Inter-Pacific Equity Nominees (Tempatan) Sdn Bhd
70,158,985
5.48
3.
Citicorp Nominees (Asing) Sdn Bhd
58,384,149
4.56
4.
Chase Malaysia Nominees (Asing) Sdn Bhd
48,033,500
3.75
5.
46,106,806
3.60
6.
Chase Malaysia Nominees (Tempatan) Sdn Bhd
39,500,000
3.08
7.
M & A Nominee (Asing) Sdn Bhd
30,000,000
2.34
8.
28,594,107
2.23
9.
Cartaban Nominees (Asing) Sdn Bhd
26,419,200
2.06
Notes:
(a) Tan Sri Dato’ Seri Tan Chee Yioun, directly and indirectly holds a total of 450,543,461 ordinary shares
representing 35.2% of the issued and paid-up share capital of Berjaya Group Berhad.
(b) Deemed interested by virtue of his interest in Berjaya Resource Holdings Sdn Bhd, B & B Enterprise Sdn
Bhd and his deemed interest in Nautilus Corporation Sdn Bhd through B & B Enterprise Sdn Bhd.
(c) Deemed interested by virtue of its 100% interest in Lengkap Bahagia Sdn Bhd.
(d) Deemed interested by virtue of his deemed interest in Nautilus Corporation Sdn Bhd.
164
Notice of
A
N
N
U
A
L
G
E
N
E
R
A
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E
T
I
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G
NOTICE IS HEREBY GIVEN THAT the Thirty First Annual General Meeting of Berjaya Group Berhad will
be held at Perdana Ballroom, Bukit Jalil Golf & Country Resort, Jalan 3/155B, Bukit Jalil, 57000 Kuala Lumpur
on Thursday, 28 October 1999 at 10.30 a.m. for the following purposes:AGENDA
1.
To receive and adopt the audited accounts of the Company for the year
ended 30 April 1999 and the Directors’ and Auditors’ Reports thereon.
RESOLUTION 1
To approve the payment of a final dividend of 3% (tax exempt) in respect of
the year ended 30 April 1999.
RESOLUTION 2
3.
To approve the payment of Directors’ fees.
RESOLUTION 3
4.
To re-elect the following Directors:(a) Encik Adam bin Bachek
(b) Dato’ Ismail bin Osman
RESOLUTION 4
RESOLUTION 5
To re-appoint Messrs Arthur Andersen & Co as Auditors and to authorise the
Directors to fix their remuneration.
RESOLUTION 6
2.
5.
6.
As special business:To consider and, if thought fit, pass the following Ordinary Resolution:“That, subject always to the Companies Act, 1965, the Articles of Association
of the Company and the approvals of the relevant governmental/regulatory
authorities, the Directors be and are hereby empowered, pursuant to Section
132D of the Companies Act, 1965, to issue shares in the Company from time
to time and upon such terms and conditions and for such purposes as the
Directors may deem fit provided that the aggregate number of shares issued
pursuant to this resolution does not exceed 10% of the issued share capital of
the Company for the time being and that such authority shall continue in force
until the conclusion of the next Annual General Meeting of the Company.”
RESOLUTION 7
165
Notice of Entitlement Date and
D
I
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I
D
E
N
D
P
A
Y
M
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N
T
NOTICE IS ALSO HEREBY GIVEN THAT the final dividend of 3% (tax exempt) in respect of the financial
year ended 30 April 1999, if approved by the shareholders at the forthcoming Annual General Meeting, will be
paid on 18 January 2000.
The entitlement date shall be fixed on 20 December 1999 and a Depositor shall qualify for entitlement only in
respect of:a)
Shares transferred to the Depositor’s Securities Account before 12.30 p.m. on 20 December 1999 in respect
of ordinary transfers.
b)
Shares bought on the Kuala Lumpur Stock Exchange on a cum entitlement basis according to
the Rules of the Kuala Lumpur Stock Exchange.
By Order of the Board
SU SWEE HONG
Secretary
Kuala Lumpur
13 October 1999
Notes :
A member entitled to attend and to vote at a meeting of the Company is entitled to appoint one or more proxies
to attend and vote in his stead. A proxy need not be a member of the Company. The instrument appointing a
proxy or proxies, duly completed, must be deposited at the Company’s Registered Office not less than 48 hours
before the time set for the meeting or any adjournment thereof.
The Ordinary Resolution 7 is proposed pursuant to Section 132D of the Companies Act, 1965 and if passed, will
give the Directors of the Company, from the date of the above Annual General Meeting, authority to issue and
allot shares from the unissued share capital of the Company for such purposes as the Directors may deem fit and
in the interest of the Company. This authority, unless revoked or varied by the Company in general meeting,
will expire at the conclusion of the next Annual General Meeting of the Company.
166
Form of
P
R
O
X
Y
(Company No. 7308-X)
I/We . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Name in full)
I.C. or Company No. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .CDS Account No. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(For Nominee Companies only)
of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Address)
being a member/members of BERJAYA GROUP BERHAD hereby appoint:
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I.C. No. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Name in full)
(New and Old I.C. Nos.)
of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Address)
or failing him/her, the Chairman of the Meeting as my/our proxy to vote for me/us on my/our behalf, at
the Thirty First Annual General Meeting of the Company to be held at Perdana Ballroom, Bukit Jalil Golf &
Country Resort, Jalan 3/155B, Bukit Jalil, 57000 Kuala Lumpur on Thursday, 28 October 1999 at 10.30 a.m. or
any adjournment thereof.
This proxy is to vote on the Resolutions set out in the Notice of the Meeting as indicated with an “X” in the
appropriate spaces. If no specific direction as to voting is given, the proxy will vote or abstain from voting at
his/her discretion.
FOR
AGAINST
ORDINARY RESOLUTION 1
No. of Shares held
......................................
Signature of Shareholder(s)
Signed this......................................day of ....................................., 1999
Note:
A member entitled to attend and vote at the meeting is entitled to appoint a proxy/proxies to attend and vote in his/her stead. A proxy
need not be a member of the Company. The instrument appointing a proxy or proxies, duly completed, must be deposited at the
Registered Office of the Company not less than 48 hours before the time fixed for convening the meeting.
If the appointor is a corporation, this form must be executed under its common seal or under the hand of its attorney.
167
Fold this flap for sealing
Affix Stamp
THE COMPANY SECRETARY
B E R J AYA G R O U P B E R H A D
LEVEL 17, MENARA SHAHZAN INSAS
30, JALAN SULTAN ISMAIL
50250 KUALA LUMPUR
2nd fold here
1st fold here
For further information, please contact:
The Company Secretary
Level 18, Menara Shahzan Insas, 30, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia.
Tel: (6)03-935 8888 Fax: (6)03-935 8043
http://www.berjaya.com.my
S PORTS
L A Y S IA
SECURITIES
SDN
BHD
BERJAYA GENERAL INSURANCE
BERHAD
The Sun
THE ULTIMATE CARWASH
™
I N O K O M
PHILIPPINE GAMING
MANAGEMENT CORPORATION
E
IN
S
TA
IR
MA
®
NT
MILLIO
N
A

BERJAYA GROUP BERHAD Laporan Tahunan

Transcription

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